HomeMy WebLinkAbout2009-09-23-RB-minMINUTES OF THE SEPTEMBER 23, 2009 RETIREMENT MEETING
Present: Robert Cunha, Joseph Foley, Michael McNabb, Rob Addelson, Alan Fields,
Marguerite Oliva
Bob Cunha called the meeting to order at 8:00.
The Board accepted and signed the 093009 warrant and the September payroll. They
reviewed and signed the August minutes.
New members: (26) Cherie Robinson, Recreation Municipal Clerk; Jolene Danian, Aide;
Nichole Verissimo, Student Support Instructor; Heejean Yang, BCBA; Suzanne
Rooney, Dept. Head Secretary; Julie LaLumiere, Secretary /Receptionist; Rynel Wise,
Metco Monitor /Aide; Kimberly Kossmann, Mollie Chamberlain, Richa Jain, Debbie
Scipioni, Tiffany Bradlee, Carolyn Sharp- Hegarty, John Goodwin, Marissa Williamson,
Amy Sharon, Laura Cohen, Carolyn Schultz, Amanda Taylor, Abbie Stern, Valerie
Diorio, Christina Nardone, Beth Gavrin, Sharon Reid, Carla Bombara, Elizabeth Billings,
Colleen Williams, Instructional Assistants
Request for Retirement: (3) Karen Ojamaa, Recreation Dept. Clerlk, 8128109; Charles
Corssino, Cemetary Foreman, 1113109; Bryan Hoiseth, Patrolman, 9/18/09
Deceased Retirees: (4) Ruth Oley, School Dept. Opt. B depleted, 8130109; Constance
Hodgedon, Comptroller Clerk, Opt. B depleted, 912109; Ruth Keefe, 94109, School Dept.,
Opt. A; Charles Foley, School Custodian, Opt. B depleted, 917109
Fran Peters and LouAnn Eisenhut from Meketa Investments presented the August 31
primilary report. Market value as of 8/31109 was $91.6 mm. Year to date has increased
15.6 %.
Also presented by Meketa was an overview of the PIMCO Global Multi -Asset Fund.
Attending the meeting were Teri Frisch and Cynthia Loh from PIMCO. They first
reviewed the PIMCO All Asset Fund which increased to $22.1 mm as of 8/31/09. Year
to date has increased 16.8 %.
The PIMCO representatives presented information on the new PIMCO Global Multi -
Asset Fund. The strategy inception date was November 2008 and year to date is up
13.2 %.
Tim Maul and Sarah Gilfillan from Wellington attended the meeting to discuss the
Opportunistic Fund. Year to date has increased 21.5 %. The Board requested that Tim
Maul present new strategies for future considerations.
Reports are on file in the retirement office.
After further discussions, a motion was made, seconded and approved unanimously to
invest $12.7 mm in PIMCO Global Multi -Asset Fund. Transfer $8 mm from the existing
A motion was made, seconded and approved unanimously to fund Loomis Credit
Opportunities for $5 mm. $1.5 mm will be transferred from cash and $3.5 mm from the
SSgA Bond Funds.
Alan Campbell notified the office that he had not received the request to appear at the last
meeting. He forwarded a letter requesting that $450 be withheld from each pension check
until his over - earnings are paid.
Approval was received from PERAC to withhold on a monthly basis for Alan Campbell
and James Weston.
Janet Brown had not responded to three requests for completion of the Benefit
Verification Form. We were finally able to contact a daughter and were told that Janet is
now living elsewhere. The daughter had the form completed and returned it to the office.
The Board discussed the need for an RFP for and actuary to perform a study for 111110.
A request will be sent to PERAC to place the ad on their website.
Reevaluations were returned from PERAC for Sam Palmer and Don Barter. Neither is
able to return to work.
MACRS reservations for the Fall Conference to be held in Springfield from October 18 --
October 21 were made for Bob Cunha, Joe Foley and Marguerite Oliva.
Representatives from Acadian will be requested to attend the October meeting for a
quarterly review.
Administrative review put on hold again.
A motion was made, seconded and approved unanimously to adjourn the meeting at
10:30 AM. The next meeting will be held October 29, 2009 at Cary Library.
Robert W. Cunha, Chairman
Robert Addelson, Ex Officio Member
Alan Fields, Appointed Member
Michael McNabb, Appointed Member
Joseph Foley, Elected Member