2020-11-24-RB-min - Laserfiche WebLink

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Minutes of the November 24, 2020 Retirement Board meeting: Present: Robert Cunha,Joseph Foley,Alan Fields, Fred Weiss, Carolyn Kosnoff, Marguerite Oliva and James Condon Absent: None NEW MEMBERS: (5) Ryan Voto, Student Support; Crystal Dolcimascolo, Petrula Laudato, Zachary Rhodes, Sarah Burgoyne, Instructional Assistants; RETIREMENTS: DEATHS: (3) Leonard Muller, Firefighter, 10/22/20; William Young, Detective, 10/17/2020; Elinor Greenway, Clerk, 11/08/2020 The Lexington Retirement Board met remotely through Zoom tele-conferencing during the Covid-19 Pandemic. The Town Clerks Office posted the meeting,which included the information for any interested party to join the call. All Board members were present for this meeting. Chairman Robert Cunha called the meeting to order at 8:30 am. The Board accepted the 112720 Warrant and the November payroll. The October minutes and September financials were reviewed and approved. Bob Cunha reviewed the November agenda with all Board members and staff in attendance. The matter of Robert Magarian was discussed after an audit discovered he has been overpaid monthly on his ADR pension since June 2018. Marguerite Oliva explained the calculation to the Board. Mr. Magarian was notified that his June 2018 payment would include a one-time retro of$3,665.55 on top of his regular ADR monthly amount. He was made aware of what his payments would be going forward after the retro payment. In July 2018, the figures were not changed and he continued to receive the additional $3,665.55 per month, fully knowing it was a one-time retro for June 2018. The extra $3,665.55 has been paid through October 2020. Mr. Magarian has collected a total of$102K since July 2018, yet failed to mention or question why the pension was so high. He has been sent a certified letter with documentation of this matter. We have yet to hear back. Attorney Michael Sacco has been made aware of this matter. The Board will wait to hear back from the Retirement office on any information relayed from Mr. Magarian. Stopping or reducing his payment was part of this discussion. Each year, the Retirement office sends out an Annual Benefit Verification Affidavit to its retirees. This form needs to be signed and notarized. Due to the ongoing Covid-19 Pandemic,which appears to be worsening at this time, it was questioned whether we should conduct the program in January 2021. The risk for our members to seek a notary seems too high. Massachusetts law requires this program to be initiated not less than once every two years. Lexington Retirement Board has asked its members yearly to complete the Affidavit. The feeling amongst the Board members was to take a year off from the program. Bob Cunha made a motion to halt the 2021 Annual Benefit Verification program for its retirees due to the ongoing Pandemic. The motion was seconded by Joseph Foley, and unanimously approved by Carolyn Kosnoff, Fred Weiss and Alan Fields. The program will be reactivated in January 2022.