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Mike suggested transferring some funds to a fund similar to Monroe. Alan is not <br />comfortable with adding another debt manager. <br />The next agenda will include discussions of decreasing RhumbLine and transferring <br />funds to Wellington & Fiduciary or Harford, the possibility of adding more managers and <br />reducing Loomis. <br />The Board discussed the educational credits requirements and Joe Connarton's response <br />to tailoring the requirements to include the over site compliance requirements for Mike <br />and Alan. It was noted that Mike and Alan's requirements are an asset to the Board. <br />Mike and Alan will put together their requirements. <br />The Board asked that Mike Sacco be asked if the requirements are statutory or regulation. <br />It is felt the education requirement is statutory but the choice of course offerings is <br />regulated by PERAC. Alan also questioned if the PRIT Board members have the same <br />requirement. If so, then the requests will stop there. <br />Rob would like to send a letter to Joe Connarton to get the Board's position on record. <br />Bob suggested sending the letter to the Commission. Rob will present a draft at the next <br />meeting. <br />The Fidelity Plan Expense Reimbursement of $11,786 was received and the 411 qtr Town <br />Appropriation was wired to State Street. <br />Carl Valente was approached by the Police Union to see if the Town would adopt Ch. <br />235 of the Acts of 1994 which would allow police who had been laid off through a <br />reduction in force and then reinstated within 3 years to be allowed to buyback time. <br />Acceptance is local option. Carl would like Rob to request information from Ilan <br />Sherman of the cost for 5 — 7 members. Mike is concerned this may set a precedence and <br />questioned if this would be open -ended or only for the members in question. A copy of <br />the legislation will be forwarded to the Board. <br />Town Meeting has appropriated $1,119,000 for the OPEB Fund for July 1, 2014. <br />A motion was made, seconded and approved unanimously to adjourn the meeting at 10:00. <br />The next meeting will be held May 21, 2014, 8:00 AM at Cary Memorial Library in the Learning <br />Center. RhumbLine and Harford will be requested to attend. <br />Robert W. Cunha, Chairman <br />Michael McNabb, Appointed Member <br />Robert Addelson, Ex Officio Member Joseph Foley, Elected Member <br />Alan Fields, Appointed Member <br />