Holyoke Retirement Board Meeting August 21, 2024
9:00 am Holyoke City Hall Annex
20 Korean Veterans Plaza, Holyoke 01040
Pursuant to G.L. c. 30A, § 20(b) notice is hereby given that a meeting of a Holyoke Retirement Board Meeting to be held at 20 Korean Veterans Plaza, Room 207, Holyoke, MA.
Board Meeting: Wednesday August 21, 2024 @ 9:00 A.M.
Agenda Topics:
Minutes of Meeting held on July 31, 2024
Expense Warrant Approval
Bank Reconciliations
Trial Balance and Statement of Financial Activities
Retirement Applications
Disabilities
PERAC Memos
Consultant- &CO
RFP’S
COLA
Appropriations
Refunds and Transfers
Segal Actuarial Assumptions
Anthony Dulude is inviting you to a scheduled Zoom meeting.
Topic: Holyoke Retirement Board
Time: Aug 21, 2024 09:00 AM Eastern Time (US and Canada)
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Meeting ID: 830 3477 7500
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HOLYOKE RETIREMENT BOARD
August 21, 2024
MINUTES
Pursuant to Chapter 20, Section 20 of the Acts of 2021, the regular Meeting of the Holyoke Retirement Board was called to order by Chairman Jack McCarthy (zoom) 9:04 A.M. Present were Tanya Wdowiak, Michele Aubrey, Cheryl Dugre, Todd McGee. Also present were Executive Director Anthony Dulude, Cyril Espanol-journalist (zoom), and Brian Green.
- Minutes of Board minutes held on July 31, 2024.
On separate motions made by Ms. Wdowiak, seconded by Ms. Aubrey, it was voted unanimously, via roll call (5-0) to accept Item I “Minutes,” Item II “Bank Reconciliation,” Item III “Statement of Financial Activities,” Item IV “Retirement Applications,” and Item V “Expenses.”, voting in favor all members.
- Bank Reconciliation:
Bank statements through July 31, 2024. No reconciliations since July, 2022.
- Statement of Financial Activities:
Reviewed Trial Balance and Cash Flow Worksheet
- Retirement Applications:
Wanda Snow HWW 8/3/2024
- Expenses:
- Bills……………………………………………. $ 1,403.97
Consultant Fees……………………. 0.00
Refunds & Transfers………………. 44,369.10
3 8 c ………………………………. 10,035.54
Management Fees…………………… 18,536.15
$ 74,344.76
- Retiree Payroll: Annuity Pension Total
July 31, 2024 $ 473,209.40 $ 2,165,647.43 $2,674,162.64
- VI. Issues-Request-Policy:
- PERAC Memos and Correspondence:
Perac Memo 20/2024 Cola Dependent Allowance
Perac Memo 19/2024 Reinstatement to Service
Perac Memo 21/2024 New Anti-Spiking Regulations
Perac Memo 22/2024 Public Sector Post-Retirement Limitations
Perac Memo 23/2024 Veterans Buyback Changes
- Pension Appropriations FY2024: Report 8/20/2024
Total Due Total Paid Balance Due
City $12,648,883.00 $ 12,648,883.00 $ 0.00
Gas & Electric 4,353,483.00 4,353,483.00 0.00
Water 601,654.00 601,654.00 0.00
Housing 1,149,999.00 1,149,999.00 0.00
Waste Water 30,903.00 30,903.00 0.00
Total $18,784,922.00 $18,784,922.00 $ 0.00
FY 2025
DUE PAID BALANCE
City 12,532,947.00 12,532,947.00
HG&E 4,679,884.00 779,980.74 3,899,903.26
Water 638,989.00 638,989.00
Housing 1,314,436.00 219,072.66 1,095,363.34
Waste Water 31,587.00 31,587.00
Total 19,197,843.00 999,053.40 18,198,789.60
- New Members:
| Name | Unit | Group | Original Board Date | Rate | 2% |
| Sherlyann Albino | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Chloe Beman | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Normary Cartagena | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Saneirys Castro | SDP – School Department | 1 | 08/05/2024 | 9.0 | Y |
| Xavier Colon Rivera | SDP – School Department | 1 | 08/01/2024 | 9.0 | Y |
| Juan Colon | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Davian Concepcion | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Chamile Cruz | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Destiny Espinosa | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Marilyn Gonzalez | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Jessica Grout | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Cristal Lasanta | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Dianexis Lopez | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Lydia Lorenzi | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Hilda Marrero | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Joniqua Meadows | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Marcos Navarro | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Lucia Nieves | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Jonpaul Ortiz | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Ralph Ortiz | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Rosa Ortiz | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Yosue Pacheco | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Nayarit Padilla | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Kenny Perez | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Nathaniel Ramos | SDP – School Department | 1 | 08/05/2024 | 9.0 | Y |
| Shelley Reed | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Maribel Reyes | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Kiomara Reynoso | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Andre Ruiz | ADM – Administration (small dept.) | 1 | 08/19/2024 | 9.0 | Y |
| Marimar Torres | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
| Jorge Watson | SDP – School Department | 1 | 08/19/2024 | 9.0 | Y |
Roll Call Vote taken (5-0) unanimous to accept the new members.
- Disabilities-
Board voted roll call to go into Executive Session at 9:12am
Board voted roll call to leave Executive Session at 9:14am
The Board voted (5-0) to grant Enrique Melendez disability retirement.
Ms. Wdowiak left meeting at 11am.
- Investments:
Presentation made by Pennant Park- Brian Kendall, Jose Briones, and Pete Mitchell.
The Board voted roll call Ms. Aubrey, Mr. McGee -yes. Mr. McCarthy and Ms. Dugre -no (2-2) to
Invest 10 million with Pennant Park.
New roll call vote taken to reduce to 5 million.
The Board voted roll call (4-0) to Invest 5 million with Pennant Park Private Equity
The Board voted roll call (4-0) to Invest 5 million with LMCG/Serenitas Gamma Fund
The next meeting of the Holyoke Retirement Board will be held on September 25, 2024 @ 9am.
There being no further business, a motion to adjourn was made by Ms. Dugre, seconded by Mr. McGee, passing unanimously, (4-0).
MEETING ………………………. adjourned 10:55A.M.
List of Documents Reviewed at the 8/21/2024 Meeting:
Draft minutes of July 31/2024 meeting.
Peoples Bank Statements- July 2024
Mariner- Flash Report
Trial Balance
Cash Financial Activities
Respectfully submitted,
______________________________
Anthony Dulude
Executive Director
ATTESTED TO: _____________________________ John T. McCarthy (Chairman)
Elected Member
_____________________________ Michele Aubrey
Appointed Fifth Member
_____________________________ Cheryl Dugre
Elected Member
_____________________________ Todd McGee
Appointed Member
_____________________________ Tanya Wdowiak