MINUTES
HULL CONTRIBUTORY RETIREMENT BOARD MEETING
July 27, 2017
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The regular meeting of the Hull Contributory Retirement Board, duly posted to be held in the Selectman’s Meeting room, Town Hall, Hull, MA on the above date was called to order at 9:19 a.m. Present were, Members, Gregory Galvin, Brian Thompson, and John Reilly, Michael Buckley and Retirement Administrator Lauren Durham. John King was absent.
In accordance with the open meeting law, the Chair was notified and it was announced that Lauren Durham was making and audio recording of the meeting.
PERAC Prosper Training
The meeting was called to order late as a result of members getting set up and logged into a go-to meeting hosted by Derek Moitoso, compliance counsel for PERAC. The website PROSPER has been launched by PERAC as a communication portal between the commission and each Board. Everyone will be required to report the Board educational credits, sign up for training classes, access PERAC memo’s, amongst other applications. Derek provided the Board with training on logging into the system, navigating the site and a general overview of how it works. The Board expects to incorporate checking the portal as part of their monthly Board Member duties. Derek completed his presentation at approximately 10:00 and provided the opportunity for follow- up questions at any time.
At this time, John Reilly had to excuse himself for the remainder of the meeting. (10:05)Before departing, a brief conversation about moving the meeting times from 9:00 a.m. on Tuesdays to 5:30p.m.location TBD. The other members agreed.
Minutes:
Brian Thompson made a motion, seconded by Greg Galvin to approve the minutes from June 27, 2017 regular Board meeting as presented.
Unanimously Voted.
Payments:
Brian Thompson made a motion to approve and sign the Bill Warrant and the Payroll Warrant for July 2017, seconded by Greg Galvin.
Unanimously Voted.
Michael Buckley authorized $200,000.00 to be liquidated from PRIT in order to fund the July payroll.
Service Purchase Request:
Greg Galvin made a motion, seconded by Brian Thompson to grant a request made by Sarah Clarren of Hull Community Development and Conservation Commission to purchase 11 months of non-membership service from 1/25/2015 through 1/25/2016. Total cost to purchase is $1,689.37.
Unanimously Voted.
Hull Contributory Retirement Board Meeting
Minutes
July 27, 2017
Page 2 of 2
Review/Discussion:
The Brockton Retirement Board send correspondence to the Board regarding PERAC agreeing to grant PROSPER access to a Board’s legal counsel. Greg Galvin spoke directly with Joe Connarton, Executive Director of PERAC, and discussed the process that Board attorney’s are currently utilizing, a secure drop box, and determined that access to PROSPER will not be necessary at this time. In Greg’s opinion, a letter to PERAC in support of granting access to Board attorney’s is not needed at this time. All board members agreed.
Discussion of the Pioneer Institute report from April 2017, The Bay State’s Public Pension complex: Costly and Unaccountable will be tabled until the August meeting.
Updates:
The PERAC Emerging Issues Forum is scheduled for September 14. 2017 at Holy Cross in Worcester. Lauren Durham has been invited to participate in a panel discussion on that day. Greg Galvin requested to be signed up to attend.
The Board reviewed the Trial balance for May and June 2017 as well as the June 2017 PRIT Statement.
The Board received notification from Attorney Michael Sacco that oral arguments in the Gregory Shea case will be on August 3, 2017 in Plymouth District Court.
Greg Glavin reviewed the minutes from the June 2017 meeting, of which he was absent, and noticed the buyback request for Glenn Comeau in the amount of 56,720.57. He suggests that Lauren Durham re-calculate this buyback using ½ the actuarial rate for the time prior to the law changing, 4/2/2012 and then calculate the remaining time using the full actuarial rate. Lauren will re-calculate this purchase and notify the employee of the change.
The Board reviewed the following Informational Mail:
- PERAC Memo #21/2011- Mandatory Retirement Board Member Training- 3rd Quarter 2017
- PERAC Memo #22/2017- PROSPER and the Legal Review of Disabilities
The Board’s next scheduled meeting is for Tuesday, August 29, 2013 at 5:30p.m. Location TBD: 9:23 a.m.__________
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Gregory Galvin Brian Thompson
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J. Michael Buckley John Reilly
ABSENT___________________
John King
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Brian Thompson
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