Holyoke Retirement Board Meeting November 29, 2023
9:00 am Holyoke City Hall Annex
20 Korean Veterans Plaza, Holyoke 01040
Posted November 9, 2023, 2:02 PM
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.
Regular Board Meeting: Wednesday November 29, 2023 @ 9:00 A.M.
Agenda Topics:
Minutes of Meeting held on October 25, 2023
Expense Warrant Approval
Bank Reconciliations
Trial Balance and Statement of Financial Activities
Retirement Applications
Disabilities
PERAC Memos
Appropriations
Refunds
Manager Reviews
Anthony Dulude is inviting you to a scheduled Zoom meeting.
Topic: Holyoke Retirement Board
Time: Nov 29, 2023 09:00 AM Eastern Time (US and Canada)
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HOLYOKE RETIREMENT BOARD
NOVEMBER 29, 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 Cheryl Dugre, Tanya Wdowiak, Todd McGee and Michele Aubrey. Also present were Executive Director Anthony Dulude, Brian Green &CO, With Intelligence( Investment Firm).
- Minutes of Board minutes held on October 25, 2023 minutes.
On separate motions made by Ms. Wdowiak, 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.
- Bank Reconciliation:
Bank statements through October 31, 2023. No reconciliations since July, 2022.
III. Statement of Financial Activities: Pooled Fund Worksheet
- Retirement Applications:
Manuel T. Reyes- Police Department 10/12/2023
- Expenses:
- Bills……………………………………………. $ 9,738.98
Refunds & Transfers………………. 174,564.98
3 8 c ………………………………. 93,242.88
Management Fees…………………… 64,587.14_
$342,133.98
- Retiree Payroll: Annuity Pension Total
October 31, 2023 $ 460,748.28 $ 2,148,738.65 $2,609,486.93
- VI. Issues-Request-Policy:
- PERAC Memos and Correspondence:
Perac Memo # 23/2023 Paid Family and Medical Leaves
Perac Memo #24/2023 Outsourced Chief Investment Officer
Perac Memo #24a/2023 Addendum to #24
Perac Memo #25/2023 Cybersecurity Training
Perac Memo #26/2023 Fraud Prevention Campaign
- Pension Appropriations FY2024: Report 10/25/2023
Total Due Total Paid Balance Due
City $12,648,883.00 $ 0.00 $ 12,648,833.00
Gas & Electric 4,353,483.00 725,580.50 3,627,902.50.
Water 601,654.00 0.00 0.00
Housing 1,149,999.00 0.00 1,149,999.00
Waste Water 30,903.00 0.00 30,903.00
Total $18,784,922.00 $725,580.50 $ 18,059,341.50
- New Members:
| Name | Unit | Group | Status | Status Date | Rate |
| Silvana Aguirre-Mcginnis | LIB – Library | 1 | HIRED | 11/13/2023 | 9.0 |
| Joshua Ortiz | PDP – Police Department | 1 | HIRED | 11/06/2023 | 9.0 |
- Disabilities-
No action taken during meeting.
- Investments: Copy of Fund 23 – total value as of October 31. 2023
$ 362,596,498.24
The Board conducted manager reviews pursuant to 840 CMR 16.07. Via Zoom, the following managers presented performance and investment reports detailing the manager’s activities
which the Board reviewed:
Terracap, Aristotle, Wells Fargo/CB, ConCap, Oberweis.
The Board reviewed and compared the managers’ performance with the retirement system’s investment goals and policies. The Managers reviewed investment performance and relative performance, provided a current investment outlook/forecast as well as strategy for the future, and key personnel staffing changes.
The Board determined that the investment managers continue to operate in the manner represented when first retained and outlined in the agreement between the Board and the manager.
The Board voted 4-0 (McGee left meeting at 10:40am) to liquidate Wells Fargo/CB and SSGA Tips and to rebalance money to Seizert, Putnam, Aristotle and Western Asset on recommendation from Consultant Brian Green. Exact amounts will be at next meeting.
The next meeting of the Holyoke Retirement Board will be held on Wednesday December 20, 2023 @ 9am.
There being no further business, a motion to adjourn was made by Ms. Wdowiak, seconded by Ms. Dugre, passing unanimously, (4-0).
MEETING ………………………. adjourned 10:50 A.M.
List of Documents Reviewed at the 11/29/2023 Meeting:
Draft minutes of November/2023 meeting.
Peoples Bank Statements- October 2023
Pooled Fund Statement 2023
Manager review materials Terracap, Aristotle, Wells Fargo/CB, ConCap, Oberweis.
Proposed Meeting Dates for 2024
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