Click here to sign up for city emergency alerts - including community event alerts, Fire Department notifications, law enforcement alerts, general information alerts, and public works notifications

Holyoke Retirement Board Meeting April 24, 2024

Apr 24 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.

 

Regular Board Meeting: Wednesday April 24, 2024 @ 9:00 A.M.

 

Agenda Topics:

 

Minutes of Meeting held on March 27, 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: Apr 24, 2024 09:00 AM Eastern Time (US and Canada)

Join Zoom Meeting

https://us02web.zoom.us/j/81377834529?pwd=WDVRQlhFY1Bob1prRVV5bTRaZnpRQT09

Meeting ID: 813 7783 4529

Passcode: 437376

One tap mobile

+13126266799,,81377834529#,,,,*437376# US (Chicago)

+16469313860,,81377834529#,,,,*437376# US

Dial by your location

  • +1 312 626 6799 US (Chicago)
  • +1 646 931 3860 US
  • +1 929 205 6099 US (New York)
  • +1 301 715 8592 US (Washington DC)
  • +1 305 224 1968 US
  • +1 309 205 3325 US
  • +1 253 205 0468 US
  • +1 253 215 8782 US (Tacoma)
  • +1 346 248 7799 US (Houston)
  • +1 360 209 5623 US
  • +1 386 347 5053 US
  • +1 507 473 4847 US
  • +1 564 217 2000 US
  • +1 669 444 9171 US
  • +1 669 900 6833 US (San Jose)

Meeting ID: 813 7783 4529

Passcode: 437376

Find your local number: https://us02web.zoom.us/u/kuUjyD9dU

April 24, 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 9:02 A.M.  Present were Cheryl Dugre, Tanya Wdowiak, Todd McGee and Michele Aubrey (Absent). Also present were Executive Director Anthony Dulude, Cyril Espanol-Journalist(zoom), Mayor Garcia (zoom), and Lisa VanDermark- Segal Actuarial (zoom).

 

  1. Minutes of Board minutes held on March 27, 2024.

 

On separate motions made by Ms. Wdowiak, seconded by Ms. Dugre, 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 February 29,2024. No reconciliations since July, 2022.

 

III.       Statement of Financial Activities:

 

  1. Retirement Applications:

 

Samuel Carmona- School Dept. June 2024

 

 

  1. Expenses:
  2. Bills……………………………………………. $       48,729.90

Refunds & Transfers……………….           54,062.02

3 8 c ……………………………….

Management Fees……………………        10,136.13                   

$112,928.05

 

         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.

 

  1. Retiree Payroll: Annuity                       Pension                        Total

March 31, 2024           $ 474,298.91               $ 2,175,087.03            $2,649,385.94

 

Vote (4-0) to accept items I-V with adjustments for minutes and expenses (Segal).

                                                                                                

  1. VI. Issues-Request-Policy:

 

  1. PERAC Memos and Correspondence:

 

Perac Memo #11/2024 Mandatory Board Member Training

Perac Memo #12/2024 Perac Regulations 840 CMR 4.00 and 25.00

Perac Memo #13/2024 Perac Regs. 840 CMR 2.00,8.00,11.00,12.00 and 15.00

 

 

  1. Pension Appropriations FY2024: Report 4/23/2024

 

Total Due                  Total Paid               Balance Due

City                             $12,648,883.00           $ 9,486,662.24           $ 3,162,220.76

Gas & Electric                 4,353,483.00               3,627902.50                725,580.50

Water                                 601,654.00                  313,654.00                288,000.00

Housing                           1,149,999.00                  862,499.25                 287,499.75

Waste Water                        30,903.00                            0.00                     30,903.00 

Total                            $18,784,922.00            $14,321,620.99          $ 4,463,301.01

 

 

  1. New Members:

 

Name Unit Group Status Date Rate
Abigale Buedinger ADM – Administration (small dept.) 1 04/01/2024 9.0
Gloria Caballero-Roca SDP – School Department 1 04/01/2024 9.0
John Rosario PRK – Parks & Recreation Dept. 1 04/01/2024 9.0
Cinthya Sanchez SDP – School Department 1 04/01/2024 9.0

 

               

Vote taken (4-0) unanimous to accept the new members.

 

 

  1. Disabilities-

 

Board voted to go into executive session at 9:10am (4-0) vote.

Board voted to exit executive session at 9:15am (4-0) vote.

  

            Catherine Collamore- Perac approval 4/11/2024

Enrique Melendez- Board voted (4-0) to approve Mr. Melendez

for Medical Panels.

William Dulude- vote will be put on for May 1, 2024 meeting.

 

 

  1. Investments:

 

Consultant Brian Green of Mariner will be at May 1, 2024 meeting.

 

  1. 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. Base

increase was approved (4-0) vote.

 

 

The next meeting of the Holyoke Retirement Board will be held on Wednesday May 1, 2024 @ 9am.

 

There being no further business, a motion to adjourn was made by Ms. Wdowiak, seconded by Mr. McGee, passing unanimously, (4-0).

 

MEETING ………………………. adjourned 9:59 A.M.

 

List of Documents Reviewed at the 4/24/2024 Meeting:

 

Draft minutes of March/2024 meeting.

Peoples Bank Statements- March 2024

Cola information- Segal Actuarial

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


Anthony Dulude
Executive Director

City Hall Annex
Room 207
20 Korean Veterans Plaza Holyoke MA 01040
Monday - Friday
8:30 am to 4:30 pm
Close window