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2011-02-24-RB-min
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2011-02-24-RB-min
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Minutes - RB - Retirement Board
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The Board discussed Mike Sacco's draft of the membership policy changes. A motion <br />was made, seconded and approved unanimously to accept the changes of increasing the <br />membership requirement to 20 hours per week and accepting makeup liability only for <br />those who were employed by the Town of Lexington but were not eligible for <br />membership and now have become eligible. <br />John Damiano asked to be allowed to distribute his four year military buyback over six <br />years. The Board accepted his request. Payroll deductions will begin with the next <br />payroll. <br />Atty. Sacco sent a letter to Laura Creedon reiterating that " any communication regarding <br />any matter that pertains to or involves the Board must be directed through his office" He <br />also stated that there is no reason for her or anyone acting on her behalf to have any <br />communication or contact with the Board. <br />The Physician Statement for Joseph Sveistys which was sent back to the doctor for <br />completion has not yet been returned. As soon as the form is received, the Request for a <br />Medical Panel will be sent to PERAC. <br />It was noted that the voucher for reimbursement to the Town of Lexington for salary <br />covers 16 payrolls for Maggie and Karen and Maggie's benefits for 6 months. Maggie <br />inquired about reimbursing the Town monthly or bi- monthly rather then twice a year. <br />After Maggie and Karen left, the Board discussed the compensation survey. By a <br />4 -0 vote, Maggie was granted a 4% pay increase retroactive to July 1, 2010. Some <br />objectives are to be set for Karen and a review will be done in six months to assess her <br />performance. <br />Fidelity representatives will be asked to attend the March 24, 2011 meeting. <br />PERAC still has not responded to the Board regarding the 2008 over earnings for <br />Anthony Previte. <br />A motion was made, seconded and approved unanimously to adjourn the meeting at <br />9:30 AM. <br />The next meeting will be held March 24, 2010, 8:00 AM at Cary Memorial Library in the <br />Learning Center. <br />Robert W. Cunha, Chairman <br />Michael McNabb, Appointed Member <br />Robert Addelson, Ex Officio Member <br />Absent <br />Joseph Foley, Elected Member <br />Alan Fields, Appointed Member <br />
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