Holyoke Retirement Board Meeting September 25, 2024
9:00 am Holyoke City Hall Annex
20 Korean Veterans Plaza, Holyoke 01040
Anthony Dulude is inviting you to a scheduled Zoom meeting.
Topic: Holyoke Retirement Board
Time: Sep 25, 2024 09:00 AM Eastern Time (US and Canada)
https://us02web.zoom.us/j/87420682336?pwd=suaibyNZrqwq7x1ZggcMHangedd8ip.1
Meeting ID: 874 2068 2336
Passcode: 044672
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Meeting ID: 874 2068 2336
Passcode: 044672
Find your local number: https://us02web.zoom.us/u/kcbLF5SssO
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 September 25, 2024 @ 9:00 A.M.
Agenda Topics:
Minutes of Meeting held on August 21, 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
HOLYOKE RETIREMENT BOARD
September 25, 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. Also present were Executive Director Anthony Dulude, Cyril Espanol-journalist (zoom), Gar Chung-journalist (zoom) and Brian Green (zoom). Celeste Fernandez (Office Staff) and Joseph O’Connor (public).
The Board voted 4-0 to name Cheryl Dugre as Chairwoman of the Holyoke Retirement Board.
The Board voted 4-0 to name Celeste Fernandez (Asst Executive Director) as Election Officer.
9:01am Thomas Gibson (Board Attorney), Jerry McDonough (Board Attorney) attended via Zoom.
Thomas Gibson expanded on several items.
William Dulude- disability retirement confirmed.
Election dates for vacant McCarthy seat and upcoming election of Ms. Dugre’s seat.
Veteran’s Buyback- notice by November 1st, 2024.
Jerry McDonough- spoke in relation to the new anti-spiking laws.
- Minutes of Board minutes held on August 21, 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 August 31, 2024. No reconciliations since July, 2022.
- Statement of Financial Activities:
Reviewed Trial Balance and Cash Flow Worksheet
- Retirement Applications:
Patricia Lemieux- School Dept. 9/12/2024
- Expenses:
- Bills……………………………………………. $ 9,306.35
Consultant Fees……………………. 0.00
Refunds & Transfers………………. 264,401.46
3 8 c ………………………………. 377,194.61
Management Fees…………………… 0.00
$ 650,902.42
- Retiree Payroll: Annuity Pension Total
August 31, 2024 $ 491,655.48 $2,239,160.20 $2,730,815.68
- VI. Issues-Request-Policy:
- PERAC Memos and Correspondence:
The Voice October 2024
- Pension Appropriations FY2025: Report 9/25/2024
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% |
| Siobhan Brennan | SDP – School Department | 1 | 09/02/2024 | 9.0 | Y |
| Rhodet Delgado | SDP – School Department | 1 | 09/02/2024 | 9.0 | Y |
| Reina Diaz | PDP – Police Department | 1 | 09/15/2024 | 9.0 | Y |
| Darlene Dubois | SDP – School Department | 1 | 09/02/2024 | 9.0 | Y |
| Rohan Jumpp | SDP – School Department | 1 | 09/02/2024 | 9.0 | Y |
| Kashyana Lopez | SDP – School Department | 1 | 09/02/2024 | 9.0 | Y |
| Vincent Mason | SDP – School Department | 1 | 09/02/2024 | 9.0 | Y |
| Licelys Mora | SDP – School Department | 1 | 09/02/2024 | 9.0 | Y |
| Keishla Rodriguez | SDP – School Department | 1 | 09/02/2024 | 9.0 | Y |
| Tatiana Rodriguez | SDP – School Department | 1 | 09/02/2024 | 9.0 | Y |
| Michael Rosa | SDP – School Department | 1 | 09/02/2024 | 9.0 | Y |
| Aricelis Santana | SDP – School Department | 1 | 09/02/2024 | 9.0 | Y |
| Kayla Saunders | SDP – School Department | 1 | 09/02/2024 | 9.0 | Y |
| Gianisse Serrano | SDP – School Department | 1 | 09/02/2024 | 9.0 | Y |
| Moises Silva | SDP – School Department | 1 | 09/02/2024 | 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 SSGA, Aristotle, Seizert and Loomis Sayles.
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 table action for Western Asset until October meeting.
Elections:
Board voted 4-0 to do 2 separate elections – 1 for Jack McCarthy’s seat December 20, 2024 for term starting
January 1, 2025 through December 31, 2027.
The Board will act on Ms. Dugre’s seat at the October 30, 2024 meeting.
On a motion made by Todd McGee the Board voted to have a moment of Silence for the Chairman Jack McCarthy.
The next meeting of the Holyoke Retirement Board will be held on October 30, 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 10:16A.M.
List of Documents Reviewed at the 9/25/2024 Meeting:
Draft minutes of August 31/2024 meeting.
Peoples Bank Statements- August 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