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- MINUTES OF MEETING -
HINGHAM CONTRIBUTORY RETIREMENT BOARD
October 27, 2005
A regular meeting of the Town of Hingham Contributory Retirement Board was held in the Town Hall on Thursday, October 27, 2005. Thomas P. Hall, Jean M. Montgomery, Eileen McCracken and Peter J. Blampied were present. Ted C. Alexiades was absent. The meeting was called to order by Thomas P. Hall at 3:30 P.M.
A motion was made by Eileen A. McCracken and seconded by Peter J. Blampied to approve the minutes of the September 22, 2005 board meeting.
AYE 4-0. It was unanimously voted.
A motion was made by Eileen A. McCracken and seconded by Peter J. Blampied to approve the following retirement allowances and expenses:
| Retirement Allowances (October 2005) | |
| Annuity | $55,641.20 |
| Pension | $342,591.94 |
| Cost of Living | $5,990.60 |
| Dependent Allowance | $880.94 |
| Total Warrant #PR1005 | $405,104.68 |
| Retirement Expenses (October 2005) | |
| Salaries | $4,071.10 |
| Office Expenses | $5,386.45 |
| 3(8)(c) Payments $ 0.00 | |
| Refunds/Transfer | $865.15 |
| Total Warrant #AP1005 | $10,322.70 |
AYE 4-0. It was unanimously voted.
A motion was made by Jean M. Montgomery and seconded by Eileen A. McCracken to accept the following Applications for Membership:
| Jan M. Jacobson | Accounting Dept. (A/P Specialist) | 22-Sep-05 |
| Mark R. Gately | School Dept. (Custodian) | 11-Oct-05 |
| Catherine T. Dyer | School Dept. (Kids in Action) | 26-Sep-05 |
| Brian Willard | Police Dept. (Dispatch) | 11-Oct-05 |
| Nancy Stearns | Police Dept. (Dispatch) | 11-Oct-05 |
| Jane K. Santosuosso | Board of Appeals (Administrator) | 11-Oct-05 |
| Heather L. Mendes | Police Dept. (Patrolman) | 19-Oct-05 |
| Gay C. Canepa | School Dept. (Paraprofessional) | 1-Sep-05 |
AYE 4-0. It was unanimously voted.
A motion was made by Eileen A. McCracken and seconded by Peter J. Blampied to accept the following Applications for Retirement:
| Donald W. Lincoln | Police Dept. (Dispatcher) | 1-Oct-05 |
Option A |
| Frank X. McNamara | School Dept. (Bus Driver) | 17-Oct-05 |
Option B |
AYE 4-0. It was unanimously voted.
A motion was made by Eileen A. McCracken and seconded by Peter J. Blampied to accept the following Applications for Withdrawal and/or Transfer of Deductions:
| Erin Coggins | School Dept. (Paraprofessional) | $865.15 | Transfer |
AYE 4-0. It was unanimously voted.
A motion was made by Eileen A. McCracken and seconded by Peter J. Blampied to accept the following Application for Buybacks/Make-ups:
| Brenda Foresta | School Dept. (Kids in Action) | 10 years/08 months | Lump Sum |
| Jean Agostino | School Dept. (Teachers Aide) | 10 years/00 months | Lump Sum |
AYE 4-0. It was unanimously voted.
The Cash Flow Report through October 31, 2005 was discussed.
The Monthly Account Statement and PRIT Fund performance for the period ending September 30, 2005 was discussed. The PRIT Core Fund returned 2.62% for the month of September, 5.53% fiscal year-to-date and 8.73% calendar year-to-date.
A motion was made by Peter J. Blampied and seconded by Eileen A. McCracken to adjourn the meeting at 3:45 P.M.
AYE 4-0. It was unanimously voted.
The next regular Retirement Board meeting will be held on Monday, November 21, 2005.
Ted C. Alexiades, Chairman
Thomas P. Hall
Peter J. Blampied
Eileen A. McCracken
Jean M. Montgomery