2018-01-25-RB-min - Laserfiche WebLink

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Minutes of the January 25, 2018 Retirement Board Meeting: Present: Robert Cunha, Joe Foley, Frederick Weiss, Alan Fields, Carolyn Kosnoff, Marguerite Oliva and Jim Condon NEW MEMBERS: (10) Ala Hamdi, Carolyn Soderstrom, Valerie Porter, SSI's; Kelly Flaherty, IA; Olga Feliz, Custodian; James Kelly, Building Commissioner; Matthew Casey, Richard Spaulding, Laborers; Sally Peacock, Town Accountant DEATHS: (2) Corrine Connor, Survivor of Gerald Connor, 1/15/18; Dorothy Graham, School lunch, 1/16/18 RETIREMENTS: (4) Barry W.J. Rose, DPW Leadman, 1/29/18; Charles Crayton, Patrolman, 1/19/18; John Fleck, Asst. Fire Chief, 1/26/18; Elaine Melahouris, Analyst, Insp. 2/2/18 The Board accepted the 013118 Warrant and January payroll. The December 2017 minutes were reviewed and approved, as well as the cashbooks for November 2017. The Board acknowledged that Alan DiPietrantonio and Vivian Marcano have both completed their respective medical appointments. PERAC will notify us via email and through the PROSPER website the next completed stage for these two individuals. Bob announced that Frederick Weiss was reappointed to a second term by the Board of Selectman. Fred's 2nd term date commenced on January 12, 2018 and will expire on January 11, 2021. The Board voted unanimously to re-appoint Alan Fields as the fifth member to the Lexington Retirement Board. Bob Cunha made the motion, which was seconded by Joe Foley, and approved by Fred Weiss and Carolyn Kosnoff This will be Alan's seventh term with the Board. His term will expire on January 20, 2021. Board Members were reminded to visit the PROSPER site for upcoming course registrations to obtain education credits. Upon course completions, they will need to submit certifications/affidavits through PROSPER for credit. The Board voted on the Cost of Living Adjustment for 3% of the first $14,000.00 for retirees. A motion was made by Bob, seconded by Joe, and approved unanimously for the FY'19 COLA. Alan, Fred, and Carolyn were informed to complete the required 268(A) Form on PROSPER. There was a White Oak distribution for $127,309.00 and a Monroe distribution for $257,754.00 to the town. Steve McLellan presented the Meketa Update. He stated there is discussion with their Actuary regarding immunization and research analysis for Senior Debt, which is somewhat unstable. Talk of allocating 5 million dollars possibly. He mentioned Golub Capital is no longer calling, and Monroe is also done. Steve spoke up about the possibility of scaling back on Contrafund and/or Loomis. The thought is to bump up our real estate holdings. Our allocation is at 6%, with the possibility of raising up