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RET 7-25-24 9EVERLY CONTRIBUTORY RETIREMENT BOAR? ME ETING MINUTES July 261112024 6;00 PM The Beverly Retirement Board held an i -person meeting at 275 Rantoul Street, as well as a teleconference meeting through googte meet meet.google.com/gnw-bmpb-yca Dial in (US)+1 484-718-2449 PIN: 679 370 697 4 ON Thursday,July 251"2024. Board members present were Bryant Ayles, D.Wesley State Jr., Carol Augulewicz, Kevin Smith, and Adam Travinski.Also present, the Director, Colleen Loughlin and Assistant, Meaghan McLaughlin, The meeting was called to order at 6:4 pm. OPEB;Update: None .A Motion was made by Adam and Sec nded by Kevin to approve the.Minutes of the June 271''Meeting as read.Vote 4-0 in favor. Carot abstained as she did not attend Junes Meeting. A Motion was made by Wes and Secon ed by Carol to approve the Superannuation Retirement of Madeline August--School Tech Support-24 years and 9 months of service- Retirement date: 08/31/2024-Option A.Vote 5-0 in favor: A Motion was made by Wes and seconi led by Ada to approve the refund of Ellen Peiven- Para-4 years 9 months of service-$11, 41.36.Vote 5-0 in favor. There were no rollovers.this month. A Motion was made by and Secon Jed by Kevin to approve the.Transfer of Debra Roy- Housing Authority-22 years 4 months f service-$234,109.48 to Lynn.Retirement System Vote 5-0 in favor. A Motion was made by Wes.and Secon ed by Adam to approve the following new members to the Beverly Retirement.System.Vot 5-0 in favor. Joshua Gato-School IT--DOFM: 07/1/24-9%+ 2%.-Group 1. Brian Mill r-School.I,T DOFM 07/01/2024-9%+2%-Group 1. Melissa Weed-Health DOFM: 07/1/2 -9%+2% Group 1. Paulo Fidalgo-DPS-DOFM: 07/15/24--9%+ %o-Group 1. Kipp Fernandez-COA--DOFM: 07/11/24-9%4 +2%.. Group 1. NO FINANCIAL INFORMATION THIS MONTH. A Motion was made by Wes and Secon Jed by Carol to approve the monthly A warrant of $2,000.00 Vot&5-0 in favor. Carol aske J if the increase of$500 reflects what we owed as teat should have.been increased by$1 5 in May..Meaghan confirmed that was correct.The new amount for rent will be$1,625.00 A Motion was bade by Wes and Secon Jed by Kevin to approve the staff salary B Warrant of $15,732.68.Vote 5-0 in.favor. 756 July 2511,2024 PAGE TWO A Motion was made by Wes and Secon led by Carol to approve the Monthly A/P and Retiree Warrant in the amount of$1,648,503.0 .Vote 5-0 in favor. A Motion was made by Wes and Secon Jed by Kevin to approve the Refund Warrant of $11,341.36.Vote 5-0 in favor. Old Business: Meaghan informed the Board that the Medical Panel appointment was completed on 07/04/2024 for David La erdiere's Accidental Death Benefit.The results have not yet been distributed.. Running Payrott through PTG The Chairman and Carol updated the rest. of the Board.on what was discussed at the. working staff meeting.The Director infc rmed the Board that we are updating PTG data to be current with July's payroll after COLA ir creases. Once we are caught up, we will run a mock payroll. Carol asked if it would be puss ble to give HR/Treasurers Office access to PTG to view heatth insurance changes and Ac ounting. Colleen will coordinate with PTG and.HR/ Treasurers office to get them setup.Adam questioned why they would need access to PTG and stated that;any information they nE ed can be provided to them in reports run by Retirement Staff. On a Motion made by Carol and Secon ed by Wes to give access to.NR and.the Treasurer's Office. in PTG.Vote 4-0-1 in favor.Adam did not vote. The process of balancing accounting With the Treasurer's office was discussed. Potential changes to how each office is reconcil. d to each other wilt be discussed between the Retirement Staff and The Treasurers'office,then reviewed by the Board. New Business: None The following Distributed Items were reviewed and discussed: Beverly Retirement Board's Motion for Summary Decision and Men iorandurn of Law in the Debra Sheehan matter. Webinar this Week! Fiduciary Duty and Fraud Awareness. -PRIM Q2 Committee&Board Meeting Dates.'-PTG Organization Upd to PERAC Memo'#16/2024- PERAC Memo #17/2024- PERAC Memo#18/2024-PE AC e-mail 2023 Investment Report. The next Meeting will be held on Thursc ay August 29th, 2024,.at 6PM. As there is no further business to comc before the Board the meeting was adjourned at 6.34 PM on a motion made by Kevin.and Seconded by Wes.Vote.5-0 in favor. 757 July�5;h 2024 PAGE THREE Respectively submitted, "_1" Meaghan McLaughlin Assistant Director X Bryant Ayles Appointed Member,Chairman � i Carol Auquiewicz Ex Officio Kevin Smith . Elected Member D.Wesley State Jr. Elected Member Y Ad am Travi n sk i Fifth Member 758 Docusign Envelope ID:9D1E5DE83-9395-47C9-9©CA-356UB5D9CD0 July Wh 2024 PAGE THREE HREE Res pectivety submitted; 4 Meaghan McLaughtin Assistant Director Bi1m A*s APP61 ted Member,:Chairman FDa�uBtpned byr C i e Carol Au.1.OWicz Ex OfficiQ Elected Member': E Y' 5WG Y• Bi C8f.3AC721*444... . . __ .., . . . D Wesi+ey,Sf9 A.; Ei@Gteti Memi]ar AdaRz T1'ailillSkl �iftil.1111faer 758