Personnel & Pension Board
Regular MeetingNorwich, CT · October 16, 2018
Minutes
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Personn6l & Ponsion Board Agonda
October 16, 2018 Regular/Investment Meeting
Room 213, 2"^ 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. Shiela Hayes(voting member)
4. Chris Golas(voting member)
5. Richard Morelli (alternate - seated as a voting member)
6. Andre Rosedale (alternate)
B. Members Absent
1. John John (voting member)
2. Rob Dempsky (alternate)
C. Others Present
1. Brigid Marks, Director of Human Resources
2. Sandra Pimentel,P&P Board Secretary
3. Tony Madeira, Deputy Comptroller
4. Marc Shegoski, UBS(via phone,left after Item IV.A.)
5. Ashley Martella, UBS(left after Item IV.A.)
6. David Sears, UBS (left after Item IV.A.)
7. Art Meizner, Hooker & Holcombe (left after Item IV.B.)
II. Minutes
A. Minutes of the September 18,2018 Personnel & Pension Board Meeting.
Motion to approve the September 18,2018 meeting minutes made by Shiela Hayes,
seconded by Rich Morelli, all in favor.
III. Old Business
A. Review revised Retirement Plan Summary Book for General City tabled to the October
2018 meeting.
Brigid Marks distributed the draft revised Retirement Plan Summary book for
General City for board review. Motion to table to the November 2018 meeting
made by Paul Schroder, seconded by Shiela Hayes, all in favor.
IV. New Business
A. 2018 third quarter investment review with UBS.
Marc Shegoski and David Sears presented the UBS House View: We are still in the mid-
to-late stages of the longest bull market on record. Earnings growth is still strong. UBS
is forecasting a 2.8% GDP thru 2019. Although they believe the rising interest rates will
not create recession, they are expecting market volatility tliru the end of the year. The
growing deficit is also a concern. UBS expects the tariff discussions with China will be
resolved by mid-2019.
Agenda
Personnel & Pension Board Agenda Page 1 of 2
October 16, 2018 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 18, 2018 Personnel & Pension Board Meeting.
III. Old Business
A. Review revised Retirement Plan Summary Book for General City tabled to the October
2018 meeting.
IV. New Business
A. 2018 third quarter investment review with UBS.
B. Review of the draft RFP for Investment Services with Hooker & Holcombe.
C. Applications for retirement:
1. Jules Wantepool, Custodian-BOE, for a deferred retirement effective
August 11, 2018, payable immediately.
2. Paul Krupczak, Custodian-BOE, for a normal retirement effective
December 11, 2018.
D. Pension Calculations:
1. Jules Wantepool, retired August 11, 2018. His pension is calculated for $9,660.87
annually. His application is on the agenda at this meeting.
2. Cory Bader, retired September 15, 2018. His pension is calculated for $42,385.47
annually. His application was approved at the September 2018 meeting.
3. Charles Whitty, retired September 15, 2018. His pension is calculated for
$107,528.96 annually. His application was approved at the September 2018
meeting.
E. Applications for refund/rollover of pension contributions:
1. David Siswick, Heavy Equipment Operator, who terminated March 2, 2018.
Refund of $48,473.68 including interest.
2. Suzanne Cicarelli, Accounting Clerk-PW, who terminated April 6, 2018. Refund
of $52,106.55 including interest.
3. Jason Marshall, Lineman A-NPU, who terminated July 16, 2018. Refund of
$51,868.74 including interest.
4. Brian Delmonico. Paraeducator-BOE, who terminated August 24, 2018. Refund of
$3,476.17 including interest.
5. Jolea Cannon, Central Registrar-BOE, who terminated September 14, 2018.
Refund of $11,140.65 including interest.
F. Hooker & Holcombe invoices for approval:
1. HOH005036 – revised July 1, 2018 Actuarial Valuation for $1,900.
2. HOH005037 – revised July 1, 2018 OPEB Actuarial Valuation and cost
estimates for plan design changes $5,300.
3. HOH005261 – fiscal year end June 30, 2018 GASB 67 and 68 report for $3,150.
4. HOH005262 – fiscal year end June 30, 2018 GASB 74/75 report for $3000.00.
Personnel & Pension Board Agenda Page 2 of 2
October 16, 2018 Regular/Investment Meeting
Room 213, 2nd floor, 6:00 PM, City Hall Building
Norwich, Connecticut 06360
G. Review actuarial charges to participants due to Domestic Relations Orders.
H. Employee(s) to be admitted into the City of Norwich Employees’ Retirement Fund:
ACADAMY REQUEST
DATE OF GRADUATION LAST DAY ON /EVAL
NAME POSITION HIRE DATE PROBATION RECEIVED
Nathan O’Keefe Police Officer 4/4/2017 9/19/2017 9/18/2018 09/04/2018
Registered Behavior
Lindsey Hamman 10/1/2018 n/a n/a 10/2/2018
Technician-BOE
I. New Employees:
NAME POSITION DATE OF HIRE CITY/STATE
Apprentice Lineworker-
Nathan Dimmock 10/1/2018 N Stonington, CT
NPU
Apprentice Lineworker-
Kramer Sullivan 10/1/2018 Quaker Hill, CT
NPU
Nolan Foley Laborer 10/09/2018 Danielson, CT
Brandon Cholewa Laborer 10/09/2018 Danielson, CT
V. Correspondence
VI. Adjournment
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