Holyoke Retirement Board November 20, 2024

HOLYOKE RETIREMENT BOARD

November 20, 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 9:01 A.M.  Present were Tanya Wdowiak, Michele Aubrey, Todd McGee (absent). Also present were Executive Director Anthony Dulude, Alexa Foust-journalist (zoom), Cyril Espanol-journalist (zoom) and Brian Green (zoom).

 

 

2024. Minutes of Board minutes held on October 30, 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.

 

1. Bank Reconciliation:

Bank statements through October 31, 2024. No reconciliations since July, 2022.

 

1. Statement of Financial Activities:

 

Reviewed Trial Balance and Cash Flow Worksheet

 

1. Retirement Applications:

 

None for the meeting.

 

1. Expenses:
2. Bills……………………………………………. $       1,186.71

Refunds & Transfers……………….         22,866.05

Management Fees……………………       151,882.44        

                                                                                                     $ 175,935.20

 

1. Retiree Payroll: Annuity                       Pension                        Total

October 31, 2024        $ 481,294.35             $2,227,609.78       $2,708904.13

                                                                                               

1. VI. Issues-Request-Policy:

 

1. PERAC Memos and Correspondence:

 

Pension News #66

 

 

1. Pension Appropriations FY2025: Report 9/25/2024

 

                                                                   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                 123,989.00           515,000.00

Housing                          1,314,436.00                547,681.65           766,754.35

Waste Water                        31,587.00                                               31,587.00

Total                             19,197,843.00              6,798,191.42       12,399651.58

 

 

1. New Members:

 

               Antoinette Smith ADM (small dept) Group 1 9%

               

Roll Call Vote taken (3-0) unanimous to accept the new members.

 

 

1. Disabilities-

 

Enrique Melendez- Perac Approved.

 

1. Investments:

 

Manager Reviews were done by Pyramis, Long Wharf, Terracap.

 

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.

 

Board decided to redeem Long Wharf IV $30,000 to end the LWIV Fund.

 

Board decided to allow for the fact that Monroe has been acquired by Wendell.

 

Board has decided to invest $7.5 million in Long Wharf VI real estate fund.

 

Board has decided to invest $ 10 million in Terra Cap VI real estate fund.

 

The Board has requested to make sure the office has access to all banking accounts at Peoples Bank.

 

The Board voted (3-0) roll call to allow Board members and staff to attend MACRS fall meeting in

Springfield, MA December 8-11.

 

 

The next meeting of the Holyoke Retirement Board will be held on December 18, 2024 @ 8:30am.

 

There being no further business, a motion to adjourn was made by Ms. Wdowiak, seconded by Ms. Aubrey, passing unanimously, (3-0).

 

MEETING ………………………. adjourned 10:25A.M.

 

List of Documents Reviewed at the 11/20/2024 Meeting:

 

Draft minutes of October 30/2024 meeting.

Peoples Bank Statements- October 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

 

_______ABSENT_______________Todd McGee

Appointed Member

 

_____________________________ Tanya Wdowiak

Ex-Officio Member