Board of Public Works Retirement System Trustees

09-28-10 1 BOARD OF TRUSTEES Division of Public Works Retirement System Meeting Minutes September 28, 2009 A meeting of the Board of Trustees, Public Works Retirement System was held at 11:30 a.m. on Tuesday, September 28, 2010, in the DPW Conference Room located at 9 Riverside Street. Chairman Alderman Donald Dyer presided. Trustees Present: Frank Anderson, Mayoral Appointee Carl Gagnon, Employee Member David Essensa, Employee Member Trustees Absent: Alderman Richard Flynn, Aldermanic Liaison – Vice Chairman Others in Attendance: Kathleen Conti, Administrative Assistant Lucien Roy Peter Benet Others Absent: David Fredette, City Treasurer Expected Visitors: None Minutes of the Meeting: The minutes of the July 27, 2010 meeting were presented for review and acceptance. Chairman Dyer pointed out that there was an error on the minutes presented. Vice-Chairman Dick Flynn presided over the meeting. Commissioner Dyer was unable to attend the meeting MOTION BY: Trustee Anderson moved to accept, place on file, and approve the minutes of the July 27, 2010 meeting as amended. SECONDED BY: Trustee Gagnon MOTION CARRIED: Unanimously 09-28-10 2 Personnel – The retirement of David Migneault was presented to the Trustees by Ms. Conti for approval. Mr. Migneault’s retirement was effective as of August16, 2010. MOTION BY: Trustee Gagnon moved to approve the retirement of David Migneault as presented. SECONDED BY: Trustee Anderson MOTION CARRIED: Unanimously At the July27, 2010 Trustees meeting, the communication received from Robert Guidaboni requesting to buy 4 service weeks credits was voted to be held. Discussions were held with the City of Nashua’s Payroll and Legal regarding the matter. In his e-mail dated Sept 27, 2010, Treasurer David Fredette recommended that Mr. Guidaboni’s request should be granted with the understanding that this action does not set precedent. He further stated that perhaps a review with Legal could help develop a written policy for the Trustees to use. MOTION BY: Trustee Anderson to allow Robert Guidaboni to make up 4 weeks of pension payments and be credited with 4 service weeks as well. SECONDED BY: Trustee Gagnon Old Business: None New Business: Ms. Conti presented her Invoice #77, for $ 90.00, for meeting preparation and general administrative work for the Board for payment. MOTION BY: Trustee Gagnon moved to approve the payment of Invoice #77, for $ 90.00, as submitted by Kathleen Conti. SECONDED BY: Trustee Essensa MOTION CARRIED: Unanimously Approval of the distribution of funds for the period July 28, 2010 through Sept 28, 2010, in the amount of $320,460.03 was presented to the Board. The Trustees reviewed the detail. MOTION BY: Chairman Dyer moved to approve the distribution of funds for the period as presented. SECONDED BY: Trustee Essensa MOTION CARRIED: Unanimously 09-28-10 3 Correspondence – Newsletter from Hooker and Holcombe was distributed. MOTION BY: Chairman Dyer moved to accept and place on file the correspondence from Hooker and Holcombe. SECONDED BY: Trustee Gagnon MOTION CARRIED: Unanimously Period for Public Comment – Mr. Lucien Roy comment that the Trustees should consider, after a certain date, to drop the retirement service benefit from 65% to 60%. Thus percentage drop would be in conjunction with the already approved years of service of 30 years for employees hired after July1, 2010. Mr. Roy also asked the Trustees to consider granting a COLA to any employee that retired with a service benefit of 60% or less. Mr. Peter Benet presented a copy of a letter he sent to Mayor Donnalee Lozeau (no date provided) stating his views of the DPW Retirement System benefits versus the NH State Retirement System. The letter will be kept on file. Items by Trustees – None Items by the Chairman – None MOTION TO ADJOURN: Trustee Anderson moved to adjourn at 12:18 pm SECONDED BY: Trustee Gagnon MOTION CARRIED: Unanimously