Personnel & Pension Board
Regular MeetingNorwich, CT · October 17, 2017
Minutes
Personnel & Pension Board Minutes Page 1 of 3
October 17,2017 Combined Regular/Investment Meeting
Room 213,2"<i floor,6:00 PM,City Hall Building
Norwich,Connecticut 06360
I. Roll Call
Meeting called to order by Paul Schroder at 6:00 pm.
A. Members Present
1. Paul Schroder,Chair (voting member)
2. Scott Suplita, Vice Chair(voting member)
3. Peter Barber (voting member)
4. John John(voting member)
5. Richard Morelli(alternate)
B. Members Absent
1. Shiela Hayes(voting member)
2. Andre Rosedale (alternate)
C. Others Present
1. Brigid Marks,Human Resources Director
2. Mike Gualtieri, City Treasurer
3. Sandra Pimentel,P&P Board Secretary
4. Marc Shegoski, UBS(Item IV.A only, via phone)
5. David Sears, UBS(Item IV.A only, via phone)
6. Ashley Martella, UBS(Item IV.A only, via phone)
II. Minutes
A. Minutes of the September 19,2017 Regular Personnel & Pension Board Meeting.
Motion to approve the September 19, 2017 Personnel & Pension Board meeting
minutes made by Peter Barber,seconded by John John,all in favor.
III. Old Business
A. Review of procedure for unclaimed pension refunds. Corporation Counsel Mike
DriscoU to advise on disposition of funds. Tabled to the October 2017 meeting.
Mike DriscoU is still reviewing. Motion to table procedure for unclaimed funds to
the November meeting made by Paul Schroder,seconded by John John,all in favor.
B. Calendar year 2016 outside earnings report update for service-connected disabUity
retirements.
AU 2016 wage information has been received. No additional changes to be made.
IV. New Business
A. 2017 third quarter investment review with UBS.
Marc Shegoski and David Sears presented the UBS House View: Growth,inflation
and earnings will continue to accelerate as the bull market continues. US valuations
are near the top of their historic averages but remain consistent with the economy.
Equity valuations remain attractive and UBS remains overweight on global stocks
versus bonds. Within the US, UBS remains overweight on large-cap value versus
growth stocks. They continue to favor cyclical growth sectors,such as energy. As of
Agenda
Personnel & Pension Board Agenda Page 1 of 2
October 17, 2017 Combined Regular/Investment Meeting
Room 213, 2nd floor, 6:00 PM, City Hall Building
Norwich, Connecticut 06360
I. Roll Call
II. Minutes
A. Minutes of the September 19, 2017 Regular Personnel & Pension Board Meeting.
III. Old Business
A. Review of procedure for unclaimed pension refunds. Corporation Counsel Mike
Driscoll to advise on disposition of funds. Table to the October 2017 meeting.
B. Calendar year 2016 outside earnings report update for service-connected disability
retirements.
IV. New Business
A. 2017 third quarter investment review with UBS.
B. Applications for retirement:
1. Elizabeth Dowhan, Paraeducator-BOE, for a deferred retirement effective March 29,
2008.
2. Deborah Fertman, Paraeducator-BOE, for a normal retirement effective October 11,
2017.
3. Darren Powers, Police Lieutenant, for a normal retirement effective November 5,
2017.
4. Alan Bush, Records Clerk, for a normal retirement effective January 1, 2018.
C. Pension calculations:
1. Elizabeth Dowhan, retired March 29, 2008. Her pension is calculated for $6,456.60
annually. Her application for a deferred retirement is on this agenda for approval.
2. Alisha Carlson, retired January 12, 2013. Her pension is calculated for $10,294.77.
Her application for a deferred retirement was approved at the September 2017
meeting.
D. Application for refund/rollover of pension contributions:
1. Regiane Briones, Paraeducator-BOE, who terminated June 19, 2015. Refund of
$6,396.02 with interest (thru 06/30/2017).
2. Traci Fargo, Paraeducator-BOE, DOD November 3, 2016 while still employed.
Refund of $2,567.14 with interest (thru 07/31/2017) to beneficiary.
E. Notification of death:
1. Claire Abele, DOD September 24, 2017, surviving spouse of Richard Abele who
retired from the Police Department on June 21, 1997. No further benefit due.
F. Employee(s) to be admitted into the City of Norwich Employees’ Retirement Fund:
ACADAMY LAST DAY REQUEST
DATE OF GRADUATION ON /EVAL
NAME POSITION HIRE DATE PROBATION RECEIVED
Maxwell Levesque Tech Repair-BOE 9/25/2017 n/a n/a 9/29/2017
Administrative
Stefanie Montejano 7/3/2017 n/a 10/1/2017 10/2/2017
Assistant-BOE
Personnel & Pension Board Agenda Page 2 of 2
October 17, 2017 Combined Regular/Investment Meeting
Room 213, 2nd floor, 6:00 PM, City Hall Building
Norwich, Connecticut 06360
G. New Employees:
NAME POSITION DATE OF HIRE CITY/STATE
Community
Kathryn Crees Development 09/19/2017 Canterbury, CT
Supervisor
Edward Gookin Police Officer 10/4/2017 Griswold, CT
V. Correspondence
VI. Adjournment
Get email alerts for Norwich
A daily email when new agendas and minutes are posted.