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The regular meeting of the Board of Retirement was duly posted to be held in the East Hearing Room of the Hingham Town Hall on the above date. Board members Thomas P. Hall, Eileen A. McCracken and Jean M. Montgomery were present. Ted C. Alexiades and Harry F.G. Wey, III were absent.
On a motion duly made by Eileen A. McCracken and seconded by Jean M. Montgomery
VOTED to appoint Thomas P. Hall as temporary chairman.
On a motion duly made by Eileen A. McCracken and seconded by Jean M. Montgomery
VOTED to issue payment for the following monthly Warrant:
Retirement Allowances (April 2009)
Pension $ 382,717.62
Annuity $ 62,094.06
Veteran Benefit $ 64.01
Cost of Living $ 0.00
Dependent Allowance $ 444.66
Total Warrant #PR0409 $ 445,320.35
UNANIMOUS 3-0
Retirement Expenses (April 2009)
Salaries $ 11,532.87
Office Expenses $ 18,072.17
3(8)(c) Payment(s) $ 124,407.40
Refund(s)/Transfer(s) $ 38,459.25
Accidental Death Refund(s) $ 0.00
Option B Refund(s) $ 7,443.52
Total Warrant #AP0409 $ 199,715.21
UNANIMOUS 3-0
RECEIVED Application(s) for Membership in the Retirement system.
On a motion duly made by Eileen A. McCracken and seconded by Jean M. Montgomery
VOTED to approve the following Application(s) for Membership:
Kevin Paicos Selectmen (Town Administrator) January 9, 2009
UNANIMOUS 3-0
RECEIVED Application(s) for Retirement.
On a motion duly made by Eileen A. McCracken and seconded by Jean M. Montgomery to approve the following Application(s) for Retirement.
William E. Holland Police Dept. (Dispatcher) March 30, 2009 Option B
Kevin Legere Library (Custodian) March 7, 2009 Option A
Mitchell Powers Police Dept. (Patrolman) March 31, 2009 Option B
UNANIMOUS 3-0
RECEIVED Application(s) for Withdrawal and/or Transfer of Deductions.
On a motion duly made by Eileen A. McCracken and seconded by Jean M. Montgomery
VOTED to approve payment to the following employee(s):
Sharyn Waters School Dept. (Title 1 Tutor) Rollover $ 2,581.45
Jennifer King-Alfieri School Dept. (Paraprofessional) Refund $ 3,475.43
Joanne Loscalzo School Dept. (Kids in Action) Refund $ 2,607.20
Kathleen A. Baxter Library (Librarian) Refund $10,723.02
Delian D. Wylie School Dept. (Paraprofessional) Transfer $ 255.19
Allyson J. Craib School Dept. (Paraprofessional) Transfer $ 1,060.98
Jessica B. Adams School Dept. (Paraprofessional) Refund $ 1,151.65
Joanne Gwynn School Dept. (Paraprofessional) Refund $ 6,456.93
Lucia Anderson School Dept. (Paraprofessional) Refund $ 4,461.63
Theresa McDonough School Dept. (Registered Nurse) Transfer $ 5,685.77
UNANIMOUS 3-0
RECEIVED Application(s) for Buybacks/Make-ups.
On a motion duly made by Eileen A. McCracken and seconded by Jean M. Montgomery
VOTED to approve payment to the following employee(s):
Kevin Paicos Selectmen (Town Administrator) 9 years/00 months $4,925.24 (Lump Sum)
UNANIMOUS 3-0
The Cash Flow Report through April 30, 2009 was discussed.
On a motion duly made by Eileen A. McCracken and seconded by Jean M. Montgomery
VOTED to approve a PRIT Fund transfer from the General Allocation Account in the amount of $250,000. In addition, in order to cover ongoing retirement board expenses, a Cash Fund transfer was made in the amount of $250,000.
UNANIMOUS 3-0
The March 2009 Money Market account ending balance in the amount of $280,806.95 reconciles to the March 2009 Trial Balance.
On a motion duly made by Eileen A. McCracken and seconded by Jean M. Montgomery
VOTED to approve and sign the PERAC Annual Statement for the year ended December 31, 2008.
UNANIMOUS 3-0
The Monthly Account Statement and PRIT Fund Performance for the period ending
March 31, 2009. The PRIT Core Fund returned 1.16% for the month of March.
On a motion duly made by Eileen A. McCracken and seconded by Jean M. Montgomery
VOTED to adjourn the regular business meeting in order to convene in executive session.
The Board will not reconvene their regular business meeting following the executive session.
By roll call vote: Thomas P. Hall AYE
Eileen A. McCracken AYE
Jean M. Montgomery AYE
UNANIMOUS 3-0
The next meeting of the Board of Retirement will be held on Tuesday, May 19, 2009 at 1:00 P.M. in the East Hearing Room of the Hingham Town Hall.
Respectfully submitted,
Nancy M. Hutt, Admn. Asst. to the Board
APPROVED
BOARD OF RETIREMENT
Ted C. Alexiades, Chairman
Thomas P. Hall, Member
Eileen A. McCracken, Member
Jean M. Montgomery, Member
Henry F.G. Wey, III, Member