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<br />Minutes of the October 20, 2016 Retirement Board Meeting
<br />Present: Robert Cunha, Alan Fields, Joseph Foley, Fred Weiss, Rob Addelson, Marguerite Oliva, and James Condon
<br />Bob Cunha called the meeting to order at 8:00 AM.
<br />NEW MEMBERS: (15) Michael Ronan, Sarah Turgeon, Gabrielina Salas, Samantha Myott, Diane Davidson, Erica
<br />Sahin, IA’s; John DiPerna, Tech Director; Alexandra Casey, Sonya Black, SSI’s; Michael Bruno, Dispatcher;
<br />Joshua Ramos, Firefighter; Carol Moore, KA/OMA; John Taranto, Paramedic/Firefighter; Julius Chiumenti, Robert
<br />Maloney, Truck Drivers
<br />DEATHS: Ronald Waitkus, Laborer, 10/7/16
<br />RETIREMENTS: Gail Barbera, SSP; Lisa Asci, Over Max Aide
<br />The Board accepted and signed the 103116 Warrant and October payroll. The September 2016 minutes were
<br />reviewed and approved as well as the cashbooks for August 2016.
<br />Karen Simmons, Director of Recreation and Community Development, attended the meeting to request acceptance
<br />of Group 2 status for the years she was employed at Fernald School and was a member of the State Retirement
<br />Board. Karen was a recreation therapist with direct supervision of mentally defective people. During the summers,
<br />she worked the summer camps and had supervision 24 hours a day. She also sat on the crisis team with DMR.
<br />Karen had sent a multi-page document for the Board to review which included information provided by DSS
<br />documenting her employment prior to the meeting. The information had originally been sent to the State Board but
<br />she was told that as a Lexington employee, LRS had to accept or reject the proposal. After Karen left, the Board
<br />voiced a concern that the State required LRS to accept her request. Because of the documentation Karen provided, it
<br />was agreed there was enough information to be able to charge back the State. A motion was made by Bob to accept
<br />the Group 2 status, seconded by Joe, approved by Alan and Fred. Rob abstained due to the working relationship.
<br />Notification was received of the death of ADR Ronald Waitkus. He died from a cause not related to his retirement.
<br />Ch. 32, s. 101 survivors are eligible to receive $12,000 per year but Ronald’s gross annual pension was less than
<br />$12,000. Maggie had forwarded a question to Kate Hogan at PERAC for clarification of the amount that Janet
<br />Waitkus can receive. After no response Mike Sacco was notified and his response was the Board could pay either
<br />amount and see how PERAC responds. The Board decided that Janet should be paid the amount Ronald was
<br />receiving and if PERAC replies that she should receive $12,000, it would then be changed.
<br />Maria Frey was a former employee from 9/3/97 – 6/25/99. Her funds were transferred to MTRS in August 2002 and
<br />Lexington accepted liability for one year, nine months service. She called to say that she wanted credit for a full two
<br />years since MTRS grants credit for the summer months. It was explained to her that she ended her LRS membership
<br />when she resigned her position in June 1999 and since she was no longer an employee nor paying into the system
<br />she would not be granted the three month’s service. She became adamant about being granted the extra three
<br />months. She was told that she could contact the Board with her request and was told the next meeting would be
<br />th
<br />November 29.
<br />The Board was cc’d on a PERAC letter to DALA objecting to the O’Leary decision regarding vacation pay.
<br />Mike Sacco sent notification that Rodney Blake’s Workers Comp claim has settled. When a check is received from
<br />the insurance company, Rodney’s pension will be made whole.
<br />There was a White Oak call for $135,795; the Vanguard balance on 9/30/16 was $8,135,314; the Q3 2016 Fidelity
<br />Plan Expense of $11,050 was received. $1m was transferred to the PRIT Real Estate Fund on 10/1 with the next
<br />$1m being transferred on 11/1.
<br />Annual manager meetings were held with Monroe, Matthews and White Oak. Sean Duff, Zia Uddin and Megan
<br />Cruse presented the Monroe Senior Secured Direct Loan report. The fund is now closed to new investors and a new
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