Holyoke Retirement Board Meeting April 26, 2023

HOLYOKE RETIREMENT BOARD

APRIL 26, 2023

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 Michele Aubrey (via Zoom), Cheryl Dugre and Tanya Wdowiak, Todd McGee. Also present were Executive Director Anthony Dulude and Rafik Ghazarian from Segal Marco via (Zoom).

 

 

1. Minutes of Board meeting held on March 29, 2023

 

On separate motions made by Ms. Aubrey, seconded by Ms. Dugre, it was voted unanimously, via roll call (5-0) to accept Item I “Minutes,” Item II “Bank Reconciliation,” Item III “Statement of Financial Activities,” Item IV “Retirement Applications,” and Item V “Expenses.” On a roll call vote, voting in favor all members.

 

1. Bank Reconciliation:

Bank statements through March 31, 2023. No reconciliations since July, 2022.

 

III.       Statement of Financial Activities:

 

1. Retirement Applications:

 

Jennifer Martins-COA-Option D 3/30/2023

Linda Larose- School Department 6/22/2023

Brenda Morales-School Department 6/24/2023

Alice Ryan- School Department 7/1/2023

Robert Donais- HG&E 7/1/2023

Maureen Lubold- School Department 5/26/2023

 

 

1. Expenses:
2. Bills……………………………………………. $         57,441.15

3 (8) C………………………………          117,944.10

Refunds & Transfers……………….           117,273.68

Management Fees……………………          27,884,.93  

$ 320,543.86

 

1. Retiree Payroll: Annuity                       Pension                        Total

March 31, 2023                       $446,674.24                $2,096,819.04             $2,543,493.28

                                                                                               

1. VI. Issues-Request-Policy:

 

1. PERAC Memos and Correspondence:

Perac Memo #11/2023 Extension of Open Meeting Law Waivers

Perac Memo #12/2023 Forfeiture of Retirement Allowance

 

 

1. Pension Appropriations FY2023: Report 4/25/2022

 

Total Due                  Total Paid               Balance Due

City                             $12,430,567.00           $6,215,283.50            $6,215,283.50

Gas & Electric                 4,217,718.00               3,163,288.50           1,054,429.50

Water                                 629,705.00                  489,705.00                140,000.00

Housing                           1,059,334.00                 529,668.00                529,666.00

Waste Water                        28,572.00                   28,572.00                       0.00 

Total                            $18,365,896.00            $10,426,517.01          $ 7,939,378.99

 

1. New Members:

On a motion made by Ms. Dugre, seconded by Ms. Aubrey, the Board voted unanimously, via roll call (5-0) to accept the following new members:

 

 

Andres Ortega	SDP – School Department	1	9.0
Maximillian Pacheco	SDP – School Department	1	9.0
John Smith	BPW – Board Of Public Works	1	9.0
Manuel Villegas	SDP – School Department	1	9.0

 

 

 

1. Disabilities

Board voted unanimously (5-0) on a roll call vote to go into executive session at 9:40am. Came out

session at 9:43am. Voted (5-0) on a roll call vote to leave executive session.

 

Invited John Sevigne -Police Department to come into next meeting.

 

1. Investments:
2. Segal- Rafik Ghazarian- March: Flash Report

 

2. Transfer 2 million from Prit Core Real Estate Fund to Cash, 6 million from SSGA Russ 1000 to 4 million to SSGA Emerging Markets Fund, 1 million to Fidelity/Pyramis Fund and 1 million to Aristotle Small Cap Fund on a roll call vote the Board voted unanimously (5-0) to expedite the transfers.

 

1. Board needs Rory Casey- Treasurer’s Office to join next meeting- to talk about reconciliations of

bank statements.

 

The next meeting of the Holyoke Retirement Board will be held on Wednesday May 17, 2023 @ 9am

 

There being no further business, a motion to adjourn was made by Ms. Aubrey, seconded by Ms. Dugre, passing unanimously, via roll call vote (5-0).

 

MEETING ………………………. adjourned 9:55 A.M.

 

List of Documents Reviewed at the 3/29/2023 Meeting:

 

Draft minutes of 3/29/2023 meeting.

Segal Marco-performance March

Appropriation FY2023 Worksheet

Peoples Bank Statements- March 2023

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