Link back to Retirement Board page
A regular meeting of the Town of Hingham Contributory Retirement Board was held in the Town Hall on Tuesday, September 18, 2007.
Ted C. Alexiades, Eileen A. McCracken, Thomas P. Hall, Jean M. Montgomery and Henry F.G. Wey, III were present.
The meeting was called to order by Ted C. Alexiades at 10:10 A.M.
A motion was made by Henry F.G. Wey, III and seconded by Thomas P. Hall to approve the minutes of the August 21, 2007 board meeting.
AYE 5-0. It was unanimously voted.
A motion was made by Eileen A. McCracken and seconded by Thomas P. Hall to approve the following retirement allowances and expenses:
Retirement Allowances (September 2007)
Pension $ 371,774.35
Annuity $ 62,513.48
Chapter 157 Veteran Benefit $ 109.26
Cost of Living $ 6,216.06
Dependent Allowance $ 796.98
Total Warrant #PR0907 $ 441,410.13
Retirement Expenses (September 2007)
Salaries $ 3,528.12
Office Expenses $ 2,953.64
3(8)(c) Payments $ 0.00
Refunds/Transfer $ 3,915.04
Option B Refund $ 0.00
Total Warrant #AP0907 $ 10,396.80
AYE 5-0. It was unanimously voted.
A motion was made by Eileen A. McCracken and seconded by Henry F.G. Wey, III to accept the following Applications for Membership:
Molly H. Howard School Dept. (Paraprofessional) September 4, 2007
Maureen E. Giblin School Dept. (Paraprofessional) September 4, 2007
Meghan K. Duffy School Dept. (Paraprofessional) September 4, 2007
Patricia J. DiTullio School Dept. (Paraprofessional) September 4, 2007
Allyson J. Craib School Dept. (Paraprofessional) September 4, 2007
Mallory M. Brady School Dept. (Paraprofessional) September 4, 2007
Phyllis A. Powers School Dept. (Van Driver) September 4, 2007
Maria C. Sandberg School Dept. (Paraprofessional) September 4, 2007
Margaret E. White School Dept. (Kids in Action) September 4, 2007
Amy Gaffey School Dept. (Kids in Action) September 4, 2007
Sara A. Swan-Carlezon School Dept. (Paraprofessional) September 4, 2007
Andrea L. Sferruzza School Dept. (Paraprofessional) September 4, 2007
Judith A. Serafini School Dept. (Paraprofessional) September 4, 2007
Annie M. McKnight School Dept. (Paraprofessional) September 4, 2007
Constance H. Cummings School Dept. (Paraprofessional) September 4, 2007
Lisa M. Brooks School Dept. (Paraprofessional) September 4, 2007
Holly C. Krukonis Police Dept. (Dispatcher) August 6, 2007
Anthony P. Viglas Light Dept. (Lineman) September 5, 2007
Joseph A. DiBlasi D.P.W. (Skilled Laborer) September 6, 2007
Daniel C. Rogier School Dept. (Paraprofessional) September 4, 2007
AYE 5-0. It was unanimously voted.
A motion was made by Eileen A. McCracken and seconded by Jean M. Montgomery to accept the following Application for Retirement:
Judith A. Mitchell School Dept. (Secretary) September 8, 2007 Option A
AYE 5-0. It was unanimously voted.
A motion was made by Thomas P. Hall and seconded by Henry F.G. Wey, III to accept the following Applications for Withdrawal and/or Transfer of Deductions:
Melanie Kelly School Dept. (Paraprofessional) Refund $ 645.47
Karen E. Kenney School Dept. (Nurse) Addt’l interest Rollover $2,064.43
Pamela Mello Assessor’s (Admin Asst) Addt’l interest Rollover $ 415.76
Kathryn Trefry Tobacco Control (Educator) Addt’l interest Rollover $ 289.48
Adrienne Keeler Light Plant (CSR) Addt’l interest Rollover $ 499.90
AYE 5-0. It was unanimously voted.
There were no Applications for Buybacks/Make-ups.
The Cash Flow Report through September 30, 2007 was discussed.
August 2007 Retirement Board Money Market account ending balance in the amount of $308,654.79 reconciles to August 2007 Trial Balance.
A motion was made by Henry F.G. Wey, III and seconded by Thomas P. Hall to authorize Nancy Hutt to travel to the Fall MACRS Conference in Springfield, MA on October 15, 2007.
AYE 5-0. It was unanimously voted.
The board discussed but postponed their vote on Chapter 55 of the Acts of 2006 (An act increasing the accidental death benefit payable to surviving children).
The board discussed drafting legislation pertaining to the death benefit disparity (non-work related) between Group 1 and Group 4. Kevin Feeley will be asked to draft this legislation so that it may be included as a home rule petition for the 2008 April Town Meeting.
The Monthly Account Statement and PRIT Fund Performance for the period ending August 31, 2007 was discussed. The PRIT Core Fund returned -0.09% for the month of August and 7.14% year-to-date.
A motion was made by Jean M. Montgomery and seconded by Eileen A. McCracken to adjourn the meeting at 10:40 A.M.
AYE 5-0. It was unanimously voted.
The next regular Retirement Board meeting will be held on Tuesday, October 30, 2007 at 10:00 A.M.