Beverly Retirement Board 1-25-2024 On January 25` 2024 The Beverly Retirement Board held an in person meeting at 275 Rantoul Street,
Beverly, MA 0191'5 as well as a teleconference meeting on Meet.google.com/grk-tbib-ivgwith call in#
1-475-277-00$1 and a PIN 394 21.0 672#. Board members present were Bryant Ayles, Carol
Augulewicz,D. Wesley Slate Jr., Kevin Smith,Adam Travinski, and Assistant Administrator, Meaghan
McLaughlin.The meeting was called to order at at 6:00 pm.
There was no OPFB update this month.
Chairman Ayles asked if there were any questions/comments on the December 19, 2023 minutes, there
were none. On a motion made by Adam Travinski and seconded by Kevin.Smith to approve the
December 19, 2023 minutes as read. Vote 5'0 in favor.
Chairman Ayles asked if there are any questions/comments on the special meeting.held on January 12,
2024 regarding theAdministrators job description; Carol Augulewicz asked if the Job was posted on
PERAC's web page yet. Meaghan answered that is was not.Ad
arrr Travinski said he would reach out to
Natacha Dunker from PERAC on Friday. On a motion made by Kevin Smith and seconded by Adam.
Travinski to approve the minutes of the special meeting held on January 12, 2024. Vote 5-0 in favor.
There were no refunds, rollovers, or transfers this month.
On a motion made by Adam Travinski and seconded by Kevin Smith.to approve the financial
information of Oct6ber and November 2023 consisting of trial balances, cash receipts, cash
.disbursements, adj sting journal entries, cash reconciliations, PR17statements, and bank statements.
Vote 5-0 in favor.
There was no wire transfer this month.
On a motion made by Kevin.Smith and seconded by Adam Travinski to approve the monthly A rent
warrant for February 2024 amounting in$1,500. Vote S-0 in favor.
On a motion made by Carol Augulewicz and seconded by D.Wesley Slate Jr:to approve the monthly.
warrants amounting in $1,395;379.21.Vote 5-0 in favor.
Old Business: Performance and Salary reviews
The Salary survey the Administrator put together containing the salary information, active members,
retirees and years of experience for surrounding boards was reviewed Carol Augulewicz reflected back
on last meeting when it was discussed that the Board typically looks at Salem for comparison because
they are similar geographically and size wise but we hadn't realized they have a much larger
.Retirement System as they have become more of a regional office in the sense that they have various
units within their system. Chairman Ayles asked if anyone had any reactions to the Administrator
salary. Kevin Smith;stated that he took the average of.all of the boards salaries (not including the
highest and lowest salaries, as they seem to be outliers.).and came to an average of$112,970. Kevin
Smith pointed out that out of the 11 salaries, Beverly was the lowest and Barbara had the second most
experience out of all, with the most experience on the list being only by 6 months more.Also Beverly
has the third largest membership, the fifth most retirees, and third most actives.The new job opening
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PAGE TWO January 25, 2024
salary posted for administrators position would offer someone with Barbara's experience on the higher
end. Kevin suggested how to correct this would be to look at:the salary survey and adjust abase salary
to bring Barbara's salary to a more comfortable range. Chairman Ayles agreed that.with excluding the
other boards on the salary survey that are ortliers like Salem, Saugus,Wakefield and Woburn, the
majority of administrators are in the one teens. Bryant asked again what the average was that Kevin
carve to. It was $112,970. D.Wesley Slate Jr. asked Carol, because Carol has been on the Board the.
longest, if historically Beverly tended to be on the lower end compared to surrounding communities.
Chairman Ayles and Carol Augulewicz both stated they had never been behind by this much, perhaps
on the lower half tut not as low as it looks currently. Kevin Smith stated that it weighed on him that the
Board is currently looking for a new Administrator and has the willingness to pay a new Administrator
with experience a significantly higher salary. D. We Slate Jr: asked the Board if they thought that
the salary range they posted for the open position is fair based. on the numbers shown in the salary
survey provided.All agreed. Chairman Ayles states that the Board d should adjust Barbara's base salary
for the next few months until retirement to be in.the range of other Administrators. Kevin Smith
suggested an 8k merease to Barbara's base salary which would bring her to 107,420 which would still
be below the average but if accepted, offer her a 3%increase on. top that would bring her to about.110k.
Adam Travinski stated that he was thinking a 9k or 10k adjustment and.he liked Kevin's idea of the
additional percentage. Carol Augulewicz also liked this idea, Chairman Ayles calculated the 8k
adjustment with a 3%increase and came to $110,622. Kevin said that is a starting point that he threw
out there, she would still be under the average. D.Wesley Slate Jr. questioned if the adjustment should
be more and asked.for the median of the salary survey. It was$112,970.Adam Travinski suggests if the
Board brought Barbara up to 109k as an adjustment and then gave her the 3%increase it would be the
average or close to.i Chairman Ayles did the calculation and came to 112,270.
On a motion made by Kevin Smith and seconded by Adam Travinski it was approved to make.a one
time salary adjustment based on the salary survey, to bring Barbara's base salary to $109,000 effective
January 1, 2024.Vote 5-0 in favor
On a motion made by Kevin Smith and seconded by D. Wesley Slate Jr.,it was approved to grant
Barbara a 3% increase based on performance effective January 1, 2024. Vote 5-0 in.favor.
Moving onto the Assistant Administrators salary,Adam Travinski asked Meaghan if the figure on the
salary survey of$56,650 is what she was making currently. She.stated that it was.Kevin Smith
expressed that he was not sure if the Board Wanted to wait until the Administrator was present to
discuss and vote on Meaghan's salary.Chairman Ayles stated that he did take a preliminary look at this
salary because the City recently looked at a lot of the analysis and administrative functions of the
BMEA union employees.He went onto discuss how they evaluated each job function.and with that
wanted to look at what we rely on this Assistant Administrator position for.Adding that it would be
considered to be a position quite similar to the job of the Payroll Clerk.When they restructured these
salaries and positions there were certain rules that were followed looking at union em loyees existing
salaries, their functions,how many years of service; etc. Chairman Ayles asked Meaghan how many
years of service she,,has,Meaghan stated she has 6 years of service. Chairman Ayles stated what that
position and experience would.equate to on the revised salary schedules on the BMEA would be just
about, 60k, adding that that is just a reference point for the Board, Carol Augulewicz stated that was a
good comparison DT Wesley Slate Jr. is interested in the number that .Bryant put out in his BMEA study
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PAGE THREE January 25, 2024
of 60k but does not want to take.final action.without Barbara.Carol Augulewicz agrees that is fair.
Chairman Ayles reiterates that number was just a reference point and the salary survey was not
reviewed when coming up with that number. Kevin Smith points out that Meaghait's salary is the
second lowest on the list provided,Adam Travinski states the lowest salary on the list is a part time
employee so technically Meaghan is the lowest full time Assistant on this salary survey. Kevin asked if
Bryant's BMEA salary survey was based on experience and Bryant stated that it was not. It was based
on the job descriptions and classifications, also what was required for an employee to have such as
degrees and licenses, etc. Carol Augulewicz,added that Performance was not included in this survey.
A motion was made by D.Wesley Slate Jr. and seconded by Carol Augulewicz to table the discussion
on the salary range of the Assistant.Administrator as well as to wait for the Administrator to be present.
Vote 5-0 in favor.
New Business: Car91 Augulewicz suggests that the Board should discuss a retirement gift for the
Administrator. Meaghan stated that she would spearhead. If Board members have any ideas or
suggestions they will email them to Meaghan.
The following Distributed Items were discussed; PERAC-Vendor.Procurement Approval, PERAC#30-
Mandatory Retirement Board Member Training--11'Quarter 2024, PERAC Memo#1-CMR 10:10(3)&10:15
(1)(c)-Annual Review of Medical Testing Fee, PERAC-Memo##2--2024 Interest rate set at 0.1%, PERAC
Memo#3—Required;Minimum Distribution: Now"age 73 for this year's notifications,PERAC Memo#4-2024
Limits under Chapter 46 of the Acts of 2002,PERAC#5-2024 Limits under Section 23 of Chapter 131 of the
acts of 2010, PERAC#6-COLA Notice,PERAC Pension News#f 4,PERAC-Webinar Next Week!,PERAC-
Reminder: register for our webinar next week, PERAC-Join our Webinar this Thursday!, PERAC-Webinar
tomorrow,PRIM Stewardship&Sustainability Committe Meeting(Remote)-Wednesday,January 17, 2024 at
9:30 a.m., Mass Retirees-Reminder:A Holiday wish far you,Mass.Retirees- March 2024 Voice elections &
appointments,Mass Retirees-Our focus for winter 2024,Mass Retirees-A hodgepodge of info,Mass Retirees
No GIC plan design changes for FY25,PTG Updates to MACRS,PTG Pe.nsionPro+Introductory
Demonstration,.PTG Updates to MACRS Part two. Letter from.Powers.and Sullivan regarding the audit,E-mail
an important message from the Inspector General, Correspondence from Abltech Company on Death Audits.
The next Board meeting will be held on February 29'2024 at 6pm,
A motion was made by Kevin Smith and seconded by D. 'Wesley Slate.Jr.to.adjourn the meeting at 6,40
p.m.Vote 5-0 in favor.
Respectfu4McLaug
Meaghan ,
Assistant Administrator
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743
PAGE FOUR January 25, 2024
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