Holyoke Retirement Board Meeting December 18, 2024
8:30 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 December 18, 2024 @ 8:30 A.M.
Agenda Topics:
Minutes of Meeting held on November 20, 2024
Expense Warrant Approval
Bank Reconciliations
Trial Balance and Statement of Financial Activities
Retirement Applications
Disabilities
PERAC Memos
Consultant- &CO
RFP’S
COLA
Appropriations
Manager Reviews
Refunds and Transfers
Segal Actuarial Assumptions
Anthony Dulude is inviting you to a scheduled Zoom meeting.
Topic: Holyoke Retirement Board
Time: Dec 18, 2024 08:30 AM Eastern Time (US and Canada)
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HOLYOKE RETIREMENT BOARD
December 18, 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 Cheryl Dugre 8:30 A.M. Present were Tanya Wdowiak(zoom), Michele Aubrey, Todd McGee. Also present were Executive Director Anthony Dulude, Alexa Foust-journalist (zoom), Cyril Espanol-journalist (zoom) and Brian Green. Joe O’Connor (public).
- Minutes of Board minutes held on November 19, 2024.
On separate motions made by Ms. Wdowiak, seconded by Ms. Aubrey, it was voted unanimously, via roll call (4-0) 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 October 31, 2024. No reconciliations since July, 2022.
- Statement of Financial Activities:
Reviewed Trial Balance and Cash Flow Worksheet
- Retirement Applications:
Gerald Oakes Fire Dept 1/5/2025
Timothy Leary Fire Dept 1/5/2025
Margarita Gonzalez Cafeteria 1/1/2025
- Expenses:
- Bills……………………………………………. $ 45,412.03
Refunds & Transfers………………. 75,247.08
Management Fees…………………… 75,999.16
$ 196,658.27
- Retiree Payroll: Annuity Pension Total
November 30, 2024 $ 480,072.43 $2,225,833.58 $2,705,906.01
- VI. Issues-Request-Policy:
- PERAC Memos and Correspondence:
Perac Memo #30/2024 Cybersecurity Training
Perac Memo #31/2024 Disability Changes 2024
- Pension Appropriations FY2025: Report 12/13/2024
DUE PAID BALANCE
City 12,532,947.00 4,176,569.00 8,356378.00
HG&E 4,679,884.00 1,949,951.77 2,729932.23
Water 638,989.00 188,989.00 450,000.00
Housing 1,314,436.00 657,217.98 657,218.02
Waste Water 31,587.00 31,587.00
Total 19,197,843.00 6,972,727.75 12,225,115.25
- New Members:
| Felix Andino | ADM – Administration (small dept.) | 1 | 12/02/2024 | 9.0 |
| Samantha Cayer | PDP – Police Department | 4 | 12/01/2024 | 9.0 |
Roll Call Vote taken (4-0) unanimous to accept the new members.
Tanya Wdowiak left meeting at 9:43am.
- Disabilities-
Victor Heredia- Police Dept. invite in to next meeting in January 2025.
- Investments:
Manager Reviews were done by RBC, Acadian.
The Board conducted manager reviews pursuant to 840 CMR 16.07. Via Zoom:
The Board deemed the Companies are doing their due diligence with respect to the investment standards set forth in their contracts.
On recommendations from Brian Green (consultant) the board voted (3-0) on the following items. For
RFP search for Fixed Income. Loomis (zoom), Putnam (live), PPM (live).
Board decided to liquidate Western Asset $19,947,497.97.
Board decided to award Putnam/Franklin Templeton $19,947497.00
Board has decided to invest with PPM $32,000,000.00
The Board voted to accept the 2025 Budget.
Executive Session board entered at 10:29am, Board exited Executive Session at 10:31am.
The Board voted 3-0 that Treasurer Rory Casey join January 2025 meeting in person to discuss IRS taxes.
The Board also voted 3-0 not to allow Mr. Wong to do a payment plan for Veterans Buy Back.
The next meeting of the Holyoke Retirement Board will be held on January 29, 2025 @ 9:00am.
There being no further business, a motion to adjourn was made by Mr. McGee, seconded by Ms. Aubrey, passing unanimously, (3-0).
MEETING ………………………. adjourned 10:47A.M.
List of Documents Reviewed at the 12/17/2024 Meeting:
Draft minutes of November 19/2024 meeting.
Peoples Bank Statements- November 2024
Mariner- Flash Report
Trial Balance
Cash Financial Activities
Budget 2025 Appropriations
Respectfully submitted,
______________________________
Anthony Dulude
Executive Director
ATTESTED TO: _____________________________
Elected Member- vacant
_____________________________ Michele Aubrey
Appointed Fifth Member
_____________________________ Cheryl Dugre (Chairwoman)
Elected Member
______________________________Todd McGee
Appointed Member
_____________________________ Tanya Wdowiak
Ex-Officio Member