MINUTES
HULL CONTRIBUTORY RETIREMENT BOARD MEETING
June 25, 2019
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The regular meeting of the Hull Contributory Retirement Board, duly posted to be held in the Upstairs Conference Room, Town Hall, Hull, MA on the above date was called to order at 9:05 a.m. Present were, Members, J. Michael Buckley , Gregory Galvin, John King, Eileen White and Retirement Administrator Lauren Durham. Brian Thompson 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.
Minutes:
John King made a motion, seconded by Eileen White to approve the minutes from May 23, 2019 regular Board meeting as presented.
Unanimously Voted.
Payments:
Eileen White made a motion to approve and sign the Payroll Warrant for June 2019, and the Bill Warrant for June 2019 seconded by Greg Galvin.
Unanimously Voted.
Mike Buckley authorized $325,000.00 to be liquidated from PRIT in order to fund June payroll on June 27, 2019.
New Employee:
Greg Galvin made a motion, seconded by Eileen White, to approve membership on behalf of Steven Ennis with the Hull School Department start date 6/17/2019, group 1.
Unanimously Voted.
Refund/Rollover Request:
Eileen White made a motion to approve the request from Deborah Shields, former employee of the Hull Light Plant from November 13, 2000 through July 25, 2003, to rollover her accumulated deductions. Payment in the amount of $5,722.37. Seconded by John King.
Unanimously Voted
Buyback Request:
Greg Galvin made a motion to grant Joan MacDonald of the Hull School Department permission to purchase prior part time service with the Hull School Department from 6/16/2001 through 9/19/2004, 3 years, 3 months of creditable service. Total cost to purchase is $19,101.02. Ms. MacDonald plans on paying through payroll deductions. Seconded by Eileen White.
Unanimously Voted
Hull Contributory Retirement Board Meeting
Minutes
June 25, 2019
Page 2 of 2
Review/Discussion:
The Board reviewed Michael Sacco’s summary of 2018 Investment return’s that he provides to his clients annually.
Updates:
Old Business:
The Board was notified that there are currently 7 outstanding 2019 affidavits which Lauren will be calling each retiree for.
Lauren Durham reminded the Board the Conflict of Interest certifications are now past due to the Town Clerk. These certificates can also be uploaded into PROSPER for education credits.
New Business:
Greg Galvin and Lauren Durham attended the annual MACRS conference in Hyannis June 3-5. An item to note was PERAC will be releasing new forms for members and retirees soon.
The Board was provided the following for review:
May 2019 PRIT statement
April 2019 Trial Balance.
The Board was provided the following Informational Mail:
• PERAC- 2018 Investment Report
• PERAC Memo #17-2019- Tobacco Company List
• Final 1/1/18 Valuation Report
The Board’s next scheduled meeting is for Wednesday, July 24, 2019 at 10:00 a.m. In the Selectman’s Meeting Room. Meeting adjourned: 9:33 a.m.__________
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J. Michael Buckley, Chairperson Gregory Galvin
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John King Brian Thompson
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Eileen White
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