COLCHESTER RETIREMENT BOARD
THURSDAY, JANUARY 28, 2010
** SPECIAL MEETING **
COLCHESTER TOWN HALL – 7:00 P.M.
MEMBERS PRESENT: Chairman Brenden Healy, Treasurer Gregg LePage, First Selectman Stan Soby, Dan Eberle
MEMBERS ABSENT: John Ringo
OTHERS PRESENT: CFO Maggie Cosgrove
1. Call Meeting to Order: Chairman Healy called the meeting to order at 7:27 p.m.
2. Citizens’ Comments: None
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3. Welcome to Gregg LePage: Mr. LePage had previously met all those present.
4. Approval of Minutes: D. Eberle motioned to approve the minutes of the July 23, 2009 meeting, seconded by G. LePage. All members present voted in favor with G. LePage abstaining. MOTION CARRIED.
5. Chief Financial Officer’s Report: No report.
6. Review of Investments: Investments for the past 6 months have slowly risen and continue to build.
7. Other Business Deemed Necessary:
• Board Policies discussion: Policies were drafted and are waiting to be reviewed by legal council. There is no money in the budget for this.
• Board’s Budget: M. Cosgrove prepares the budget for the Board. The budget includes money for professional development, meeting clerk, and Actuarial Valuation.
• Town Legal Budget: As previously discussed, there is no money for legal budget. The town is currently in a budget freeze.
8. Other business:
Remaining 2010 meeting dates are April 22nd, July 22nd, and October 28th.
There continues to be concern whether the type of pension plan being used is the best for the town and for the officers. Selectman Soby said that this could be considered for discussion during the 2011 negotiations. Chairman Healy will discuss the matter with First Selectman Schuster. The Board would like to meet with the officers at some point to discuss with the Board, the types of pensions available, and the possible “grandfathering” of current employees.
9. Adjournment: D. Eberle motioned to adjourn, seconded by G. LePage. All members present voted in favor. MOTION CARRIED.
Chairman Healy adjourned the meeting at 7:56 p.m.
Dawn LePage, Clerk
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