Holyoke Retirement Board Meeting October 30, 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 October 30, 2024 @ 9:00 A.M.
Agenda Topics:
Minutes of Meeting held on September 25, 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: Oct 30, 2024 09:00 AM Eastern Time (US and Canada)
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Meeting ID: 849 1022 7708
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HOLYOKE RETIREMENT BOARD
October 30, 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 9:00 A.M. Present were Tanya Wdowiak, Michele Aubrey, Todd McGee(zoom). Also present were Executive Director Anthony Dulude, Kevin Balaod-journalist (zoom), Gar Chung-journalist (zoom) and Brian Green (live). and Joseph O’Connor (public).
- Minutes of Board minutes held on September 25, 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 September 30, 2024. No reconciliations since July, 2022.
- Statement of Financial Activities:
Reviewed Trial Balance and Cash Flow Worksheet
- Retirement Applications:
Terrence Ferriter- School Dept 12/1/24
Brian Lafrennie- Fire Dept 1/3/2025
- Expenses:
- Bills……………………………………………. $ 1,758.96
Consultant Fees……………………. 27.500.00
Refunds & Transfers………………. 205,880.91
3 8 c ………………………………. 97,204.57
Management Fees…………………… 0.00
$ 332,344.44
- Retiree Payroll: Annuity Pension Total
September 30, 2024 $ 482,520.37 $2,233,095.70 $2,715,616.07
- VI. Issues-Request-Policy:
- PERAC Memos and Correspondence:
Perac Memo #25/2024- Mandatory Board Training
Perac Memo #26/2024- Anti-Spiking provision
Perac Memo #27/2024- Changes to return to service
Perac Memo #28/2024- Violent Assault Disability
- Pension Appropriations FY2025: Report 9/25/2024
DUE PAID BALANCE
City 12,532,947.00 2,088,284.50 10,444,662.50
HG&E 4,679,884.00 1,559,961.44 3,119,922.56
Water 638,989.00 123,989.00 515,000.00
Housing 1,314,436.00 438,145.32 876,290.68
Waste Water 31,587.00 31,587.00
Total 19,197,843.00 4,210,380.26 14,987,462.74
- New Members:
| Name | Unit | Group | Original Board Date | Rat | 2% |
| Joseph Cavanaugh | GAS – Gas & Electric | 1 | 09/30/2024 | 9.0 | Y |
| Kyle Cavanaugh | FDP – Fire Department | 4 | 09/30/2024 | 9.0 | Y |
Roll Call Vote taken (4-0) unanimous to accept the new members.
- Disabilities-
No action taken.
- Investments:
Manager Reviews were done by Constitution Capital, Entrust, Mesirow and Oaktree.
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.
Board decided to liquidate Western Asset and move money to Putnam on recommendation
From Brian Green-consultant- Board voted 4-0 on roll call vote.
Board voted on roll call 4-0 to invite Terracap and Longwharf for Real Estate RFP finalists.
Board voted on roll call 4-0 to invite Putnam, PPM, and Loomis for Fixed Income Core RFP finalists.
Board decided to take no action for UBEO scanning documents project.
The next meeting of the Holyoke Retirement Board will be held on November 20, 2024 @ 9am.
There being no further business, a motion to adjourn was made by Ms. Wdowiak, seconded by Ms. Aubrey, passing unanimously, (4-0).
MEETING ………………………. adjourned 10:45A.M.
List of Documents Reviewed at the 10/30/2024 Meeting:
Draft minutes of September 25/2024 meeting.
Peoples Bank Statements- September 2024
Mariner- Flash Report
Trial Balance
Cash Financial Activities
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