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MINUTES
HULL CONTRIBUTORY RETIREMENT BOARD MEETING
August 22, 2001
The Hull Contributory Retirement Board meeting came to order in the Selectmen's meeting room at 9:00 a.m. The following members were present:
Philip Lemnios, Kenneth Resnick, Leonard Colten, Maurice Murphy. Also present was the Administrative Assistant, Maria Hortaridis.
Joe Connarton, Executive Director from PERAC and Mike Daley from Financial Advisory Associates were also in attendance. Chief Donald Brooker was also in attendance.
The Board set a date for the next monthly Board meeting for September 26, 2001.
The Board signed all bill warrants.
The Board signed the Payroll for July 2001.
The Board read all informational mail.
The Board read and made one change from the Minutes of the July 18, 2001 monthly Board meeting.
Mike Daley explained the training status for Maria Hortaridis, administrative assistant to the Retirement System. He stated that currently the TACS Computer Software System has 3 modules, which includes the accounting system, investment system, membership and retirees. Mike is currently working with the accounting files and the investment portion of the software. Mike suggests that the Retirement System purchase the Payroll Application so that we manage our own payroll system. The Board suggested that they would like to discuss this further about acquiring this payroll application at the next meeting. Mike Daley is currently coming into the retirement office once a month. He stated that all Trial Balance Reports have all been filed with PERAC through July, 2001.
The Board reviewed the veteran status for Chief Brooker. Joe Connarton and Chief Brooker were present at this meeting. Chief Brooker handed out additional documents in an effort to substantiate his claim of veteransubmitted a G.I. Bill and was granted an allowance for his college education and had been awarded veteran
The Board approved three new members to the Hull Retirement System:
John Mahoney, William Butler, and Pamela Giarizzo.
The Board approved the transfer of funds for James F. Simpson to the Plymouth County Retirement System.
The Board discussed new and old business.
The Board reviewed the investment status. Maurice Murphy asked if Maria Hortaridis could find out what the management fees are for each of our investors.
The Board discussed James Tobin, a former Board of Selectman and the years of service with the Hull Retirement System. Maria Hortaridis asked the Board if being on a town board, would this constitute the equivalent of a full one-year service for those who work less than 12 months. James Tobin
The Board discussed the new firefighter, Randolph Boothby's call time from the Randolph Fire Department. The Board suggested that Randolph Boothby work with the Norfolk County Retirement System to submit a letter to our Board stating how many years did Randolph Boothby serve as a Call Firefighter.
The Board discussed the possibility of having a Retirement Workshop. Joe Connarton stated that the concept is a great idea. Connarton suggested that we pick five or six main topics to speak about. Connarton suggested that we be in touch with Anne Leduc who is the Executive Director for the Cambridge Retirement System. Anne would be able to send us topics or subjects and possibly handouts that she has given out at recent retirement workshops. Connarton suggests that we pick a topic every month and invite all town employees to a seminar.
Joe Connarton gave a review regarding PRIM investment return. There are two new members on the PRIM Board, Christopher Alberti and Robert Castrell. Connarton stated that PRIM has been negative the past five quarters. Part of it is the economy. Connarton feels it will pick up. Connarton also stated that PERAC would be doing an Ethic Seminar on October 18, 2001 at 1 Ashburton Place in Boston. We will be receiving a notice on this event.
The Hull Contributory Retirement Board meeting adjourned at 10:55 a.m.
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