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Holyoke Retirement Board Meeting March 27, 2024

Mar 27 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 March 11, 2024 @ 9:00 A.M.

 

Agenda Topics:

 

Minutes of Meeting held on February 28, 2024

Expense Warrant Approval

Bank Reconciliations

Trial Balance and Statement of Financial Activities

Retirement Applications

Disabilities

PERAC Memos

Consultant- &CO

Appropriations

Refunds and Transfers

 

Anthony Dulude is inviting you to a scheduled Zoom meeting.

Topic: Holyoke Retirement Board

Time: Mar 27, 2024 09:00 AM Eastern Time (US and Canada)

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HOLYOKE RETIREMENT BOARD

March 27, 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 9:06 A.M.  Present were Cheryl Dugre, Tanya Wdowiak, Todd McGee and Michele Aubrey(zoom). Also present were Executive Director Anthony Dulude, Brian Green &CO (zoom), Cyril Espanol-Journalist(zoom).

 

  1. Minutes of Board minutes held on February 28,2024.

 

On separate motions made by Ms. Wdowiak, 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.”, voting in favor all members.

 

  1. Bank Reconciliation:

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

 

III.       Statement of Financial Activities:    Pooled Fund Worksheet – Brian Green 2/29/2024

 

  1. Retirement Applications:

 

 

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

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

3 8 c ……………………………….

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

$112,928.05

 

  1. Retiree Payroll:          Annuity                       Pension                        Total

February 29, 2024       $ 470,743.56               $ 2,179,332.77            $2,650,076.33

                                                                                               

  1. VI. Issues-Request-Policy:

 

  1. PERAC Memos and Correspondence:

 

Perac Memo #10/2024 Tobacco Company List

Office of Inspector General- Retirement Report

 

  1. Pension Appropriations FY2024: Report 12/20/2023

 

Total Due                  Total Paid               Balance Due

City                             $12,648,883.00           $ 5,270,367.91           $ 7,378,515.09

Gas & Electric                 4,353,483.00               2,902,322.00             1,451,161.00

Water                                 601,654.00                  241,654.00                 360,000.00

Housing                           1,149,999.00                  766,666.00                 383,333.00

Waste Water                        30,903.00                            0.00                     30,903.00 

Total                            $18,784,922.00            $9,211,912.91            $ 9,573,009.09

 

 

  1. New Members:

               

Vote taken (5-0) unanimous to accept the new mwmbers.

 

 

Name Unit Group Original Board Date Rate
Natalie Morales SDP – School Department 1 03/04/2024 9.0
Luis Nunez HWD – Holyoke Water Dept. 1 03/04/2024 9.0
Ricardo Rodriguez SDP – School Department 1 03/04/2024 9.0

 

 

 

  1. Disabilities-

 

 

 

  1. Investments:

 

Review of Emerging Market Equity RFP- the board voted on a roll call vote (5-0) based

On recommendation from &CO to invite ABS, PRIM and Abrdn to finalist review May 1, 2024

Meeting.

 

Housekeeping- Fixed Income-Putnam is now Franklin Templeton also 7-year cycle will be for

International Equity- Acadian, RBC.

 

  1. Cola– Cola adjustments were talked about – but under Todd McGee’s guidance was not on agenda.

Therefore, the Cola adjustments were tabled for the April 24,2024 meeting.

 

 

The next meeting of the Holyoke Retirement Board will be held on Wednesday April 24, 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 9:50 A.M.

 

List of Documents Reviewed at the 3/27/2024 Meeting:

 

Draft minutes of February/2024 meeting.

Peoples Bank Statements- January 2024

Pooled Fund Statement 2024- &CO 2/29/24

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
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