Personnel & Pension Board

Personnel & Pension Board Meeting Page 1 of 3 February 16,2021 Regular Meeting Room 213,2nd floor,3:00 PM,City Hall Building Norwich,Cormecticut 06360 ~This was a virtual/remote meeting.~ I. Roll Call Meeting called to order by Paul Schroder at 3:00 pm. A. Members Present 1. Paul Schroder, Chair (voting member) 2. Shiela Hayes(voting member) 3. Chris Colas(voting member) 4. Nate Kannas(voting member) 5. Rich Morelli(alternate - seated as a voting member) 6. Bob Pounch (alternate) B. Members Absent 1. John John (voting member) C. Others Present 1. Brigid Marks, Director of Human Resources 2. Sandra Pimentel,P&P Secretary 3. Marc Shegoski, UBS 4. Ashley Martella, UBS 5. David Sears, UBS II. Minutes A. Minutes of the January 19,2021 Personnel & Pension Board Meeting. Motion to approve the January 19,2020 minutes made by Rich Morelli,seconded by Nate Kannas,all in favor. III. New Business A. Cotmcil appointment of Robert Potmch as an alternate member. Motion to acknowledge the appointment of Bob Poimch made by Paul Schroder, seconded by Rich Morelli, all in favor. B. Investment review with UBS. Marc Shegoski reported economic recovery should begin when the COVID-19 vaccine is widely distributed. If that happens in June 2021, they expect a third quarter surge. US stocks continue to make record highs, due to the start of vaccination process, strong corporate earnings and the prospect for additional fiscal stimulus from the Biden administration. Both portfolios were up in calendar year 2020. The pension fund asset allocation on February 9, 2021 was 61.87% equity, 34.77% fixed income and 3.36% real estate. The OPEB fund asset allocation on February 9,2021 was 65.6% equity,34.4% fixed income. The pension fund increased by 11.46% and the OPEB fund by 12.04% in calendar year 2020. C. Annual Pension Plans Comparison review. The Annual Pension and OPEB Plans Comparison was submitted by Josh Pothier. UBS will review with the Board at a future video meeting. Motion to accept the AnnualPension Plans Comparison made by PaulSchroder,seconded by Nate Kannas,all in favor. Personnel & Pension Board Meeting Page 2 of 3 February 16,2021 Regular Meeting Room 213,2"d floor,3:00 PM,City Hall Building Norwich,Connecticut 06360 D. Applications for Retirement: 1. Nathan Kannas, Fire lieutenant/Acting Director Training & Safety, for a normal retirement effective April 4,2021. 2. James Roberts, Captain Fire Marshal's Office, for a normal retirement effective June 8, 2021. Motion to approve the applications for retirement made by Paul Schroder,seconded by Rich Morelli,Paul Schroder, Rich Morelli,Shiela Hayes and Chris Golas approved; Nate Kannas abstained. E. Pension Calculations: 1. Maryann Stradczuk, retired January 9,2021. Her annual pension calculation is $57,376.19. Her application was approved at the September 2020 meeting. 2. Lance Kolada retired January 16,2021. His annual pension calculation is $59,675.32. His application was approved at the September 2020 meeting. Motion to approve the pension calculations made by Rich Morelli,seconded by Nate Kannas,all in favor. F. Application for refund/rollover of pension contributions: 1. Cody Southworth,Laborer - Public Works,who terminated effective January 7,2021. Refund of $3,752.35 including interest. Motion to approve the refund calculations made by Rich MoreUi,seconded by Nate Kannas,all in favor. G. Notification of Death: 1. Anne English,DOD February 4,2021, who retired from the Health Department on September 1,1993. No further benefit due. Motion to acknowledge the notifications of death made by Rich Morelli,seconded by Nate Kannas,all in favor. 2. Lance Kolada,DOD January 25,2021, who retired from NPU on January 16,2021. Contributions and interest in excess of retirement benefits paid to be issued to beneficiary, Lawrence Kolada,in the amoimt of $192,544.00. Motion to acknowledge the notification of death and approve the beneficiary pa)mient made by Rich Morelli,seconded by Nate Kannas,all in favor. H. Review of service-connected disability underpayments per 2019 rolling year audit. Sandy Pimentel reviewed the results of the 2019 service-connected disability audit underpayments resulting from the six-month difference between the calendar year reporting and the fiscal year adjustments. Motion to approve the payments to Raymond Berry, Anthony Lasaracina and Robert Ryan per the 2019 SCD audit made by Paul Schroder,seconded by Nate Kannas,all in favor. I. New Employees: Motion to acknowledge the new employees made by Rich Morelli,seconded by Nate Kannas,all in favor. NAME POSITION DATE OF HIRE CITY/STATE Tyler Pacheco Police Officer 01/07/2021 Danielson CT Christopher LePage Police Officer 01/07/2021 PlainfieldCT Lucas Girard Firefighter 01/28/2021 Voluntown CT Kyle Markey Firefighter 01/28/2021 Lisbon CT Personnel & Pension Board Meeting Page 3 of 3 February 16,2021 Regular Meeting Room 213,2'^^ floor,3:00 PM,City Hall Building Norwich,Connecticut 06360 Employees to be admitted into the City of Norwich Employees' Retirement Fimd: Motion to admit the following employees into the City of Norwich Employees' Retirement ACADAMY REQUEST DATE OF GRADUATION LAST DAY ON /EVAL NAME POSITION HIRE DATE PROBATION RECEIVED Accounting Lisa Lapkowski 07/13/2020 n/a 01/12/2021 01/13/2021 Generalist Rachel Willey 911 Dispatcher 01/19/2020 n/a 01/18/2021 01/13/2021 Adam Goncalves Police Officer 07/02/2019 01/23/2020 01/23/2021 01/25/2021 Information John Covey Technology 08/03/2020 n/a 02/02/2021 02/05/2021 Manager-NPU IV. Correspondence Mike Driscoll was consulted about a special election to complete the term of Nate Kannas, employee representative, who will retire in April. He concurred with the need for a special election and electronic voting can be used for this election as long as the ballots are secret. V. Adjournment Motion to adjourn made by Nate Kannas,seconded by Rich Morelli, all in favor. Meeting was adjourned at 3:33 pm. Respectfully submitted, Sandra Pimentel,Secretary