Personnel & Pension Board

Personnel & Pension Board Agenda Page 1 of 3 July 20, 2021 Regular Meeting Room 213, 2nd floor, 5:00 PM, City Hall Building Norwich, Connecticut 06360 ~Please call to attend by phone 860-215-8140. Meeting ID 4038191. ~ I. Roll Call Meeting called to order by Paul Schroder at 5:03 pm. A. Members Present 1. Paul Schroder, Chair (voting member) 2. Shiela Hayes, Vice-Chair (voting member) 3. Mike Dziavit (voting member) 4. Rich Morelli (voting member) 5. Bob Pounch (alternate) 6. Frank Gavigan (new alternate) B. Members Absent 1. Chris Golas C. Others Present 1. Brigid Marks, Director of Human Resources 2. Evelyn Lopez, P&P Secretary 3. Marc Shegoski, UBS (phone) 4. David Sears, UBS (phone) II. Minutes A. Minutes of the June 15, 2021 Personnel & Pension Board Meeting. Motion to approve the June 15, 2021 minutes made by Paul Schroder, seconded by Sheila Hayes, all in favor. III. Old Business A. Discussion of pension contribution choices upon termination for vested participants. Because these former participants are also eligible to receive a deferred pension, an opinion was requested from Corporation Counsel, Mike Driscoll. Tabled until an opinion is received from Corporation Counsel. Tabled to July 2021 meeting. Motion to table to the September 2021 meeting made by Paul Schroder, seconded by Shiela Hayes, all in favor. B. Pension Obligation Bond (POB) – Joshua Pothier, C.P.A. Comptroller memo and review of Professional Services Costs and discussion of endorsement of POB. Paul Schroder read the explanation of Pension Obligation Bond prepared by Joshua Pothier, C.P.A requesting endorsement and approval. Members reviewed and discussed the effects, costs and liabilities associated with the issuance of $145 million bond. Members want a breakdown of the Professional Services Cost and they are concerned about the approximately $1.4 million of additional fees and where this money will come from. Motion was made by Shiela Hayes to endorse the Professional Services Costs of $ 180,000, to be paid out of the retirement fund with the understanding the P&P board will get an itemized breakdown of costs, seconded by Michael Dziavit, all in favor. Motion was made by Shiela Hayes to endorse Actuarial Methods & Assumptions (Assumed Rate of Return) based on presentation (memo) of Joshua Pothier dated July 14, 2021, and information provided by actuary Milliman, seconded by Richard Morelli, all in favor. Personnel & Pension Board Agenda Page 2 of 3 July 20, 2021 Regular Meeting Room 213, 2nd floor, 5:00 PM, City Hall Building Norwich, Connecticut 06360 Motion was made by Paul Schroder to endorse POB $ 145 million, contingent upon any additional money needed from the retirement fund has to be brought back to Personnel & Pension Board for approval, seconded by Shiela Hayes, all in favor. IV. New Business A. Application for retirement: 1. Walter A. Burgess Jr., School Custodian, for a deferred- payable immediately effective August 7, 2021. Motion to approve the retirement application made by Shiela Hayes, seconded by Richard Morelli, all in favor. B. Pension Calculations: 1. James W. Roberts retired June 8, 2021. His annual pension calculation is $ 72,287.11. His application was approved at the February 16, 2021 meeting. 2. Jennifer O. Coughlin, survivor of Raymond W. Coughlin – NPU who passed away on April 26, 2021, for a deferred retirement effective April 27, 2021, payable immediately. Ms. Coughlin’s pension is calculated for an annual amount of $ 27,707.34 which is at the surviving spouse rate of 90%. Motion to approve the pension calculations made by Shiela Hayes, seconded by Richard Morelli, all in favor. C. Applications for refund/rollover of pension contributions: 1. Jessica Doubleday, Safety Officer – BOE, withdrew from plan effective June 20, 2021. Refund of $ 7,797.46 including interest. Motion to approve the refund application made by Shiela Hayes, seconded by Richard Morelli, all in favor D. Notifications of Death: 1. Richard W. Kalinowski, DOD July 05, 2021, who retired from NPU on August 9, 2008. Survivor benefit to be paid to his spouse, Bernadette, in the annual amount of $ 41, 839.09. 2. John E. Smith, DOD June 30, 2021, who retired from Fire on March 01, 1991. Survivor benefit to be paid to his spouse, Bilynn, in the annual amount of $ 10,065.72. 3. John F. Browne, DOD June 22, 2021, who retired from BOE on August 01, 2004. Survivor benefit to be paid to his spouse, Shirley, in the annual amount of $ 8,184.24. Motion to acknowledge the notifications of death made by Shiela Hayes, seconded by Richard Morelli, all in favor E. New Employees: Motion to acknowledge new employees made by Shiela Hayes, seconded by Richard Morelli, all in favor NAME POSITION DATE OF HIRE CITY/STATE Amilcar DeAndrade NPU- Field Services Tech 07/06/2021 Preston, CT Joshua Jacobs PW- Bldg. Maintenance 07/12/2021 Plainfield, CT Jordan Jakobsohn PW- Laborer 06/15/2021 Norwich, CT Todd Marsh PW- Laborer 06/21/2021 Chaplin, CT F. Employees to be admitted into the City of Norwich Employees’ Retirement Fund: Motion to admit the following employees into the City of Norwich Employees’ Retirement Fund made by Shiela Hayes, seconded by Richard Morelli, all in favor. Personnel & Pension Board Agenda Page 3 of 3 July 20, 2021 Regular Meeting Room 213, 2nd floor, 5:00 PM, City Hall Building Norwich, Connecticut 06360 NAME POSITION DATE OF HIRE ACADAMY LAST DAY ON REQUEST/EVAL GRADUATION PROBATION RECEIVED DATE David Arcangel Custodian- BOE 01/04/2021 N/A 07/04/2021 07/12/2021 Kyle Gervais Accounting 09/21/2020 N/A 06/21/2021 06/21/2021 Generalist Laurie Gileau Paraeducator- 01/19/2021 N/A 06/08/2021 06/21/2021 BOE Gary Gross Police Officer 01/08/2020 N/A 07/02/2021 07/02/2021 Sarabeth Police Officer 01/08/2020 N/A 07/02/2021 07/02/2021 Hanyckyj Kerlande Juste School Nurse- 01/19/2021 N/A 06/08/2021 06/16/2021 BOE Victoria Peyton Assessment 12/28/2020 N/A 06/28/2021 06/28/2021 Analyst Paul Schroder made a motion to amend the agenda under suspension of rules to add section G. Council’s resolution #3 to agenda, seconded by Shiela Hayes, all in favor. G. Re-appointment and appointment of members of the Personnel & Pension Board 1. Paul Schroder (R) was re-appointed as member of the Personnel & Pension Board with a term to expire on March 1, 2023. 2. Richard Morelli (U) was appointed as a member of the Personnel & Pension Board with a term to expire on March 1, 2023. 3. Francis Gavigan (R) was appointed as an alternate member of the Personnel & Pension Board with a term to expire on March 1, 2022. Motion to acknowledge Council’s resolution was made by Paul Schroder, seconded by Shiela Hayes, all in favor. IV. Correspondence None V. August 17, 2021 meeting Motion made by Paul Schroder to cancel August 2021 meeting, seconded by Shiela Hayes, all in favor. VI. Adjournment Motion to adjourn made by Shiela Hayes, seconded by Richard Morelli, all in favor. Meeting was adjourned at 5:40pm Respectfully submitted, ____________________ Evelyn Lopez, Secretary