Personnel & Pension Board
Regular MeetingNorwich, CT · January 15, 2019
Minutes
Personnel & Pension Board Agenda Page 1 of 5
January 15,2019 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 Colas(voting member)
5. Richard Morelli(alternate)
6. Andre Rosedale (alternate)
7. Rob Dempsky (alternate - seated as a voting member)
B. Members Absent
1. John John(voting member)
C. Others Present
1. Sandra Pimentel,P&P Board Secretary
2. Marc Shegoski, UBS(via phone,left after Item IV.A.)
3. Ashley Martella, UBS(left after Item IV.A.)
4. David Sears, UBS (left after Item IV.A.)
II. Minutes
A. Minutes of the November 20,2018 Personnel & Pension Board Meeting.
Motion to approve the November 20, 2018 meeting minutes made by Rob
Dempsky,seconded by Scott Suplita, all in favor.
III. Old Business
A. Status of the draft RFP for Investment Services with Hooker & Holcombe.
Paul Schroder provided the update from Art Meizner.Seven proposals have
been received. Scoring will be completed by February 8,2019 and the reports
will be emailed for distribution. The report presentation will be on the
agenda at the February meeting for selection of finalists.
rv. New Business
A. 2018 fourth quarter investment review with UBS.
Marc Shegoski and David Sears presented the UBS House View: Due to
uncertainty and underlying economic issues, December's market was the
worst December on record since 1931. They predict the bull market will wind
down in 6-9 months, but the rising interest rates will not create recession. UBS
is forecasting a lower GDP in 2019. They are expecting market volatility thru
the end of the year.
The pension portfolio was reviewed by Ashley Martella: The asset allocation
on December 31,2018 was67.6% equity,32.4% fixed income.The pension fund
decreased from $178,667,848 on September 30, 2018 to $161,634,027 as of
Agenda
Personnel & Pension Board Agenda Page 1 of 2
January 15, 2019 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 November 20, 2018 Personnel & Pension Board Meeting.
III. Old Business
A. Status of the draft RFP for Investment Services with Hooker & Holcombe.
IV. New Business
A. 2018 fourth quarter investment review with UBS.
B. Calculation and review of the 2019 interest rate on contributions.
C. Applications for retirement:
1. Jon Wadja, Project Coordinator-NPU, for a normal retirement effective
January 12, 2019.
2. Patricia Dixe, Program Coordinator-YFS, for a deferred retirement effective
January 17, 2019.
3. Donna DeGroff, Account Clerk II-NPU, for a deferred retirement effective March
8, 2019.
D. Pension Calculations:
1. Delores Thayer, retired December 1, 2018. Her pension is calculated for $45,774.40
annually. Her application was approved at the August 2018 meeting.
2. Paul Krupczak, retired October 2, 2018. His pension is calculated for $35,052.67
annually. His application was approved at the October 2018 meeting.
E. Applications for refund/rollover of pension contributions:
1. Harold Dillon Babcock, Computer Repair Technician-BOE, who terminated
August 3, 2018. Refund of $1,787.92 including interest.
F. Notifications of Death:
1. Suzanne MacDowell, DOD November 11, 2018, who retired from NPU on
September 7, 2013. No further benefit due.
2. Alita Dupont, DOD November 14, 2018, who retired from BOE on June 27, 1987.
No further benefit due.
3. Raymond Selvidio, DOD December 19, 2018, who retired from the Fire
Department on January 19, 1982. No further benefit due.
G. Request from Chris LaRose, Acting General Manager-NPU, to extend the eligibility
list for Apprentice Maintenance Mechanic-Gas for one year. The current list expires
on March 5, 2019.
H. Request from Chris LaRose, Acting General Manager-NPU, to extend the eligibility
list for Maintenance Mechanic-Garage for one year. The current list expires on
March 28, 2019.
I. Hooker & Holcombe invoice HOH005586 in the amount of $500 for approval.
Personnel & Pension Board Agenda Page 2 of 2
January 15, 2019 Regular/Investment Meeting
Room 213, 2nd floor, 6:00 PM, City Hall Building
Norwich, Connecticut 06360
J. Employees 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
Kitchen Worker-
Kasia Duhaime* 2/21/2018 n/a n/a 11/21/2018
BOE
Kitchen Worker-
Nelida Darragh* 8/28/2001 n/a n/a 11/21/2018
BOE
Kitchen Worker-
Jennifer Misiaszek* 8/28/2007 n/a n/a 11/21/2018
BOE
Rebecca LaRose Paraeducator-BOE 4/2/2018 n/a 10/22/2018 10/23/2018
IT Specialist/
Michael Joyce Network Support 5/21/2018 n/a 11/20/2018 11/20/2018
Focus-NPU
Ryan Flaherty Firefighter 11/21/2018 rehire n/a 10/31/2018
Registered
Kelly Houser Behavioral 11/26/2018 n/a none 11/20/2018
Technician-BOE
Megan Cugini School Nurse-BOE 8/27/2018 n/a 11/29/2018 12/18/2018
Nancy Roberts School Nurse-BOE 8/27/2018 n/a 11/29/2018 12/18/2018
Jessie Jusseaume School Nurse-BOE 8/27/2018 n/a 12/2/2018 12/18/2018
Program
Robert Kilpatrick Coordinator- 7/2/2018 n/a 1/1/2019 1/3/2019
Recreation
Administrative
Maria Davila 10/10/2018 n/a 1/7/2019 1/8/2019
Assistant-BOE
* Food Services employees unionized effective 07/01/2017. Agreement to join fund signed Nov 2018.
K. New Employees:
NAME POSITION DATE OF HIRE CITY/STATE
Craig Berard Janitor 11/19/2018 Jewett City CT
Tracie Price Records Clerk 12/17/2018 Norwich CT
Daniel Goldberg Police Officer 12/27/2018 Stafford Springs CT
V. Correspondence
None
VI. Adjournment
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