2013-06-27-RB-min - Laserfiche WebLink

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Minutes of the June 27, 2013 Retirement Board Meeting Present: Robert Cunha, Joe Foley, Alan Fields, Rob Addelson, Marguerite Oliva, Karen Marchant, Absent: Mike McNabb Bob Cunha called the meeting to order at 8:00 AM. The Board accepted and signed the 062813 Warrant and June payroll. The May minutes were reviewed and approved. NEW MEMBERS: (8) Mark Caloggero, DPW Laborer /Truck Driver; Paul Blum, Michael Sanborn, Nicolas Pierrelouis, Custodians; John Alzate, Electrician; Matthew Ryan, Youth Services Program Director; Susan Cleary, Community Development Office Manager; Ian Dailey, Budget Officer RETIREMENTS: Mary Radz, School Asst. Data Manager, 6/28/13; Jan Comey, Data Base Administrator, 6/28/13; Tom Fullen, Bldg. Maintenance Foreman, 6/28/13 DEATHS: Gregory Ortolani, School Custodian (Active Member) 6/9/13; Mary Kekejian, DPW Clerk, 5/30/13, Opt. A; Joan Manoli, School Aide, 5/13/13 Opt. B depleted An Involuntary Accidental Disability Application has been received from the Town of Lexington on 6/12/2013. Denise Casey the Town of Lexington Human Resource Manager was present to update the Board on the status of the application. She reported the employee, who is a firefighter, sustained an injury on the job and will never recover from the injury to be able to perform the essential functions of a firefighter. The required paperwork was sent to the employee on June 11, 2013 by certified mail. He received the green card but hasn't picked up the material. He also has been contacted by the Fire Chief by phone and the Vice President of the union through text. And, the packet has also been taped to the front door of the employee's home and video taped. The Employer is trying to document delivery and receive confirmation and will continue to do so until confirmation has been received. John Carbone and Mike Zinkland from Hartford were present for the annual review. Lexington Retirement has $15.3 mil invested in the Capital Appreciation Fund. They reported the fund is up 12.18% year to date and how they signed a long term relationship with Wellington, brought in a new CEO, moved headquarters and have developed an extensive succession plan for when the portfolio manager retires. Joe Beauparlant from L000mis was present for the annual review of the Credit Asset Fund. He reported the market value as of 5/31/13 as $5,719,554 with annualized returns net of fees at 10.21 %. He also discussed strategy, characteristic summary, quality distribution and forward expectations.