Holyoke Retirement Board Special Meeting May 1, 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.
Special Board Meeting: Wednesday May1, 2024 @ 9:00 A.M.
Agenda Topics:
Minutes of Meeting held on April 24, 2024
Expense Warrant Approval
Bank Reconciliations
Trial Balance and Statement of Financial Activities
Retirement Applications
Disabilities
PERAC Memos
Consultant- &CO
RFP’S
COLA
Appropriations
Refunds and Transfers
Anthony Dulude is inviting you to a scheduled Zoom meeting.
Topic: Holyoke Retirement Board
Time: May 1, 2024 09:00 AM Eastern Time (US and Canada)
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Meeting ID: 854 3697 6513
Passcode: 206086
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Meeting ID: 854 3697 6513
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HOLYOKE RETIREMENT BOARD
May 1, 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 Chairperson Jack McCarthy at 9:00 A.M. Present were Cheryl Dugre, Tanya Wdowiak, Todd McGee and Michele Aubrey (Zoom). Also present were Executive Director Anthony Dulude, Brian Green (Mariner), John Estamaguio (zoom), J Barreta (zoom), and Gar Chung (zoom).
- Expenses:
- Bills……………………………………………. $ 1,082.15
Refunds & Transfers……………….
3 8 c ……………………………….
Management Fees…………………… 45,479.68
$ 46,561.83
Segal Marco- received bill from Segal Marco for consulting fees- it was in error for $ 17,687.50
Will be taken off April 24, 2024 warrant and be revised for May 1, 2024 meeting.
Board voted roll call (5-0) to accept revised bills from 4/24/24 meeting. (Segal Marco)
9am- Abrdn- Devan Kaloo, Matt Murdoch
9:30am PRIT- Michael McElroy, Francesco Daniele
10am ABS Global- Sean White, David Sullivan
The Board on recommendations from Brian Green voted on a roll call vote (5-0) to liquidate SSGA
Emerging Markets $26,222,663 and Abrdn $ 8,756,936 and move to ABS Global $ 23,000,000
and $11,000,000 to Western Asset.
- Disabilities-
William Dulude- vote will be put on for May 29, 2024 meeting.
- B. Investments:
Consultant Brian Green of Mariner will be at May 29, 2024 meeting with materials
for Investment Performance Review- Flash report.
Letter from Constitution Capital extending first close fee discount until June 10,2024
- Cola– Cola adjustments were presented by Lisa VanDemark (Segal). Assumptions to
Stay at 7%- unfunded 117 million- funding schedule to go through 2034. Percentage
to roughly stay at 2 %. Vote taken to increase base from $14,000 to $15,000. Board
agreed to send letter of correspondence to Mayor and City Council
The next meeting of the Holyoke Retirement Board will be held on Wednesday May 29, 2024 @ 9am.
There being no further business, a motion to adjourn was made by Ms. Wdowiak, seconded by Mr. McGee, passing unanimously, (5-0).
MEETING ………………………. adjourned 10:52 A.M.
List of Documents Reviewed at the 5/1/2024 Meeting:
Abrdn, PRIM, and ABS presentation packages.
Mariner Spreadsheet Flash Report.
Cola information- Segal Actuarial.
Constitution Capital letter.
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