Holyoke Retirement Board Meeting September 20, 2023

HOLYOKE RETIREMENT BOARD

SEPTEMBER 20, 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 9:00 A.M.  Present were Cheryl Dugre (zoom), Tanya Wdowiak, Todd McGee (zoom) and Michele Aubrey. Also present were Executive Director Anthony Dulude, Attorney Thomas Gibson (ZOOM) and Journalist Cyril Espanol Journalist (ZOOM).

 

 

1. Minutes of Board minutes held on August 30, 2023 minutes.

 

 

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 August 31, 2023. No reconciliations since July, 2022.

 

III.       Statement of Financial Activities:

 

1. Retirement Applications:

 

Alma Feliciano 11/21/2023 School Department

Ernest Girard 9/30/2023 HG&E

Kathleen McGiverin 9/22/2023 HG&E

 

 

1. Expenses:
2. Bills……………………………………………. $         1,403.11

Refunds & Transfers……………….           42,485.07

Management Fees……………………                   0.00_  

$ 43,888.18

 

1. Retiree Payroll:          Annuity                       Pension                        Total

August 31, 2023          $460,226.84                $2,196,204.51             $2,656,431.35

                                                                                               

1. VI. Issues-Request-Policy:

 

1. PERAC Memos and Correspondence:

Perac Memo # 19/2023 Tobacco List

Perac Memo #20/2023 Mandatory Training- 4^th Quarter 2023

Perac Pension News #63

 

 

1. Pension Appropriations FY2024: Report 9/19/2023

 

Total Due                  Total Paid               Balance Due

City                             $12,648,883.00           $              0.00            $ 12,648,833.00

Gas & Electric                 4,353,483.00                 725,580.50               3,627,902.50.

Water                                 601,654.00                            0.00                              0.00

Housing                           1,149,999.00                            0.00                1,149,999.00

Waste Water                        30,903.00                            0.00                     30,903.00 

Total                            $18,784,922.00            $725,580.50        $ 18,059,341.50

 

1. New Members:

 

 

Diego Acosta Bourne	SDP – School Department	1	08/28/2023	9.0
Yolimar Alvarado	SDP – School Department	1	08/10/2023	9.0
Pedro Alvarez Valentin	SDP – School Department	1	08/10/2023	9.0
Jonathan Hernandez	HHA – Holyoke Housing Authority	1	09/05/2023	9.0
Danielle Lemieux	PDP – Police Department	1	07/30/2023	9.0
Madison O’Connor	PDP – Police Department	1	08/06/2023	9.0
Jacquelin Padua	SDP – School Department	1	08/10/2023	9.0
Richard Perez	ADM – Administration (small dept.)	1	09/06/2023	9.0
Desmond Rentas	GAS – Gas And Electric	4	08/21/2023	9.0
Dylan Rios	SDP – School Department	1	07/30/2023	9.0
Liz Rivera Ocasio	BPW – Board Of Public Works	1	08/14/2023	9.0
Edward Sweeney	ADM – Administration (small dept.)	1	08/28/2023	9.0

 

 

Board went into Executive session at 9:15am on a roll call vote (5-0), Board exited executive session

At 9:50am.

 

Atty Gibson entered meeting via Zoom at 9:15am, Anthony Sotolotto- Police Department entered

meeting live. John Sevigne entered meeting live at 9:15am, Natacha Barreto-Tosado did not attend

meeting.

 

Board voted on a roll call vote in executive session to grant involuntary disabilities to Mr. Sevigne and

Ms. Barreto-Tosado. Voting unanimously 5-0 on a roll call vote.

 

1. Disabilities

John Sevigne- medical appointments 7/13/23, 6/28/23, 6/23/23 approved.

Natacha Barreto- medical appointments 7/13/23, 6/28/23, 7/7/2023 approved.

Catherine Collamore-medical appointments 7/20/23, 7/12/23 needs 1 more

Appointment for medical panel review.

 

 

31. Investments: Copy of Fund 23 – total value as of July 31. 2023

                                  $ 388,358,472.36

 

            The Board conducted manager reviews pursuant to 840 CMR 16.07.  Via Zoom:

 

LMCG- Cram Jordan

 

The Board deemed the Companies are doing their due diligence with respect to the investment standards set forth in their contracts.

 

 

Todd McGee entered meeting live at 10:10am.

 

RFP– The Board decided to vote for Consultant at 10:15am (Todd McGee exited meeting at 10:16am. On

a roll call vote the board voted 3-1 to hire &CO as its new consultant. Voting for &CO were Mr. McCarthy,

Ms. Wdowiak, and Ms. Aubrey, voting no was Ms. Dugre. No vote was cast by Mr. McGee.

 

 

The next meeting of the Holyoke Retirement Board will be held on Wednesday October 25, 2023 @ 9am

 

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

 

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

 

List of Documents Reviewed at the 9/20/2023 Meeting:

 

Draft minutes of August/2023 meeting.

Peoples Bank Statements- August 2023

Pooled Fund Statement 2023

Fund 23 Spreadsheets

Perac Investments Report 2022

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