Holyoke Retirement Board Meeting June 28, 2023

HOLYOKE RETIREMENT BOARD

JUNE 28, 2023

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 Chairperson Jack McCarthy at 9:00 A.M.  Present were Michele Aubrey (Via Zoom), Cheryl Dugre, Tanya Wdowiak and Todd McGee. Also present were Executive Director Anthony Dulude.

 

 

1. Minutes of Board meeting held on May 24, 2023 amend May 17^th minutes for July 19,2023 meeting.

 

 

On separate motions made by Ms. Aubrey, seconded by Ms. Dugre, 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.

 

1. Bank Reconciliation:

Bank statements through May 31, 2023. No reconciliations since July, 2022.

 

III.       Statement of Financial Activities:

 

1. Retirement Applications:

 

Lawrence Larocque, Jr. HG&E 7/1/2023

 

 

1. Expenses:
2. Bills……………………………………………. $         3,658.96

Refunds & Transfers……………….

Management Fees……………………          18,348.00_  

$ 22,006.96

 

1. Retiree Payroll: Annuity                       Pension                        Total

May 31, 2023              $448,804.01                $2,103,712.55             $2,552,516.56

                                                                                               

1. VI. Issues-Request-Policy:

 

1. PERAC Memos and Correspondence:

Perac Memo # 13/2023 Salary Verification Request

Perac Memo # 14/2023 Tobacco List

Perac Memo # 15/2023 91A Prosper Tasks

 

 

1. Pension Appropriations FY2023: Report 6/28/2023

 

Total Due                  Total Paid               Balance Due

City                             $12,430,567.00           $12,430,567.00          $        0.00

Gas & Electric                 4,217,718.00               3,866,241.50             351,476.50

Water                                 629,705.00                  349,705.00                280,000.00

Housing                           1,059,334.00                 794,502.00                264,832.00

Waste Water                        28,572.00                   28,572.00                       0.00 

Total                            $18,365,896.00            $17,469,587.50          $ 896,308.50

 

1. New Members:

On a motion made by Ms. Dugre, seconded by Ms. Aubrey, the Board voted unanimously, (5-0) to accept the following new members:

 

Shae Blaisdell- Holyoke Housing Authority 5/29/2023 9%

 

1. Disabilities

John Sevigne- medical appointments 7/13/23, 6/28/23, 6/23/23

Natacha Barreto- medical appointments 7/13/23, 6/28/23, 7/7/2023

Catherine Collamore-medical appointments 7/20/23, 7/12/23

 

1. Investments:

 

The Board conducted manager reviews pursuant to 840 CMR 16.07.  Via Zoom:

 

 

Abrdn- Tom Harvey, Matt Murdoch

 

 

The Board deemed the Companies are doing their due diligence with respect to the investment standards set forth in their contracts.

 

 

 

HG&E would like Retirement Board to go to cloud-based server going forward.

Will check with Atty. Gibson and other Boards throughout the State to see pros

and cons.

 

 

The next meeting of the Holyoke Retirement Board will be held on Wednesday July 19, 2023 @ 9am

 

There being no further business, a motion to adjourn was made by Ms. Wdowiak, seconded by Ms. Dugre, passing unanimously, (5-0).

 

MEETING ………………………. adjourned 9:46 A.M.

 

List of Documents Reviewed at the 6/28/2023 Meeting:

 

Draft minutes of 4/26/2023 meeting.

Peoples Bank Statements- April 2023

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

Ex-Officio Member