Personnel & Pension Board

Personnel & Pension Board Minutes Page 1 of 4 July 18, 2023 Regular Meeting Room 213, 2nd floor, 5:00 PM, City Hall Building Norwich, Connecticut 06360 I. Roll Call Meeting called to order by Paul Schroder at 5:04pm A. Members Present 1. Paul Schroder, Chair (voting member) 2. Rich Morelli, Vice Chair (voting member) 3. Bob Pounch, (voting member) B. Members Absent 1. Gary Gross, (alternate) 2. Mike Dziavit, (voting member) D. Others Present 1. Brigid Marks, Director of Human Resources 2. Michael Gualtieri, City Treasurer 3. Evelyn Lopez, Retirement Plan Administrator 4. Michele Addabbo, Human Resources Coordinator (DPU) 5. Mark Shegoski, UBS 6. David Sears, UBS 7. Ashley Martella, UBS 8. Becky Sielman, Milliman II. Minutes A. Minutes of June 20, 2023 Personnel & Pension Board Meeting. Motion to accept June 20, 2023 minutes made by Rich Morelli, seconded by Bob Pounch, all in favor. III. New Business A. UBS Investment Review Mark Shegoski, David Sears and Ashley Martella from UBS Financial Services, Inc. provided a brief overview of the current stock market. They all talked about the performance, interest rates, inflation and struggles with the current stock market. The portfolio was reviewed by David Sears and Ashley Martella. The pension fund asset allocation as of June 30, 2023 was 67.1% equity, 28.5% fixed income and 4.4 % real estate. The OPEB fund asset allocation as of June 30, 2023 was 70.5% equity and 29.5% fixed income. UBS made one recommendation. UBS recommended the following changes to the portfolio: 1. To increase the monthly POB proceeds investment amount to $3.11 million. Motion to approve investment of $3.11 million was made by Paul Schroder, seconded by Chris Golas, all in favor. B. Actuarial Valuations Becky Sielman from Milliman discussed the cost associated with performing an annual vs biennial actuarial valuations. Her recommendation to the Board is to continue with annual valuations at least until all of the POB funds have been invested. Motion made by Paul Schroder to perform an annual valuation for the upcoming valuation July 1, 2023 at a cost of $ 20,700. Board will revisit actuarial valuations next year, seconded by Bob Pounch, all in favor. Paul Schroder made a motion to move an item on the agenda under suspension of rules, III New Business, section H to section C, seconded by Bob Pounch, all in favor. C. (Formerly H.) Christopher LaRose, NPU General Manager, request for certification lists of Laboratory Director. Board members read Christopher LaRose, NPU General Manger request. Michele Addabbo, HR Coordinator for NPU also presented the reasons behind the request. Brigid Marks Personnel & Pension Board Minutes Page 2 of 4 July 18, 2023 Regular Meeting Room 213, 2nd floor, 5:00 PM, City Hall Building Norwich, Connecticut 06360 explained that per the Merit System Rules, appointing authorities are supposed to interview internal candidates first and make a hiring decision before any external candidates are considered. Rule VIII, Certification of Eligibles 2. The Personnel Director will first use lay-off re-employment lists, then transfer lists, then resignation re-employment lists, then promotions lists, and finally open competitive lists in filling positions. Paul Schroder stated there is a process involved in changing the Merit System Rules and the Board can’t change the process by a request without following the process. The Board members discussed the request and the circumstances surrounding the request. The Board voted not to approve request, however asked Brigid Marks, Human Resource Director, to research and recommend changes she sees as necessary in a future meeting. D. (Formerly C) Application for retirement: 1. Jason Calouro, Detective, for a normal retirement effective May 21, 2024. 2. Lynn S. Bustamante, Food Service Manager, for a deferred retirement effective June 16, 2023 payable November 21, 2027. 3. Cherrie A. Leighton, Food Service Manager, for a deferred retirement effective June 16, 2023 payable immediately. 4. Linda Mather, Food Service Manager, for a deferred retirement effective June 16, 2023 payable May 1, 2026. 5. Jennifer Telgarsky, Kitchen Worker, for a deferred retirement effective June 16, 2023 payable July 06, 2039. Motion to approve retirement applications made by Bob Pounch, seconded by Rich Morelli, all in favor. E. (Formerly D.) Pension Calculations: 1. Betsey F. Adams, Secretary – BOE, retired June 24, 2023. Her annual pension calculation is $20,024.60 with a 100% joint & survivor benefit reducing her pension to $18,182.34. Her application was approved at the May 16, 2023 meeting. 2. Lynn S. Bustamante, Food Service Manager, retired June 16, 2023 payable November 21, 2027. Her annual pension calculation is $12,196.48 with a 100% joint & survivor benefit reducing her pension to $10,928.04. Her application is on the agenda at this meeting. 3. Deborah D’Alessandro, Secretary – BOE, retired July 1, 2023. Her annual pension calculation is $ 19,706.94. Her application was approved at the June 20, 2023 meeting. 4. Diane King, Paraeducator – BOE, retired June 16, 2023. Her annual pension calculation is $ 21,399.64. Her application was approved at the June 20, 2023 meeting. 5. Cherrie Leighton, Food Service Manager – BOE, retired June 16, 2023. Her annual pension calculation is $5,984.46. Her application is on the agenda at this meeting. 6. Karen MaClean, Paraeducator – BOE, retired June 17, 2023. Her annual pension calculation is $ 11,603.70 with a 90% joint & survivor benefit reducing her pension to $10,791.44. Her application was approve at the May 16, 2023 meeting. 7. Linda Mather, Food Service Manager – BOE, retired June 16, 2023. Her annual pension calculation is $ 8,147.06. Her application is on the agenda at this meeting. 8. Jennifer Telgarsky, Kitchen Worker – BOE, retired June16, 2023. Her annual pension calculation is $ 2,804.22. Her application is on the agenda at this meeting. Personnel & Pension Board Minutes Page 3 of 4 July 18, 2023 Regular Meeting Room 213, 2nd floor, 5:00 PM, City Hall Building Norwich, Connecticut 06360 9. Ruth Wolf, Food Service Manager – BOE, retired June 16, 2023. Her annual pension calculation is $17,403.72 with a 50% joint & survivor benefit reducing her pension to $16,255.07. Her application was approved at the June 20, 2023 meeting. 10. James Veiga, Police Captain, retired June 9, 2023. His annual pension calculation is $ 103,193.67. His application was approved at the May 16, 2023 meeting. Motion to approve the pension calculations made by Bob Pounch, seconded by Rich Morelli, all in favor. F. (Formerly E.) Applications for refund/rollover of pension contributions: 1. Melissa Courter, ISS Supervisor – BOE, who terminated effective June 15, 2023. Refund of $3,082.49 including interest. 2. Maria Davila, Administrative Assistant – BOE, who terminated effective June 01, 2023. Refund of $20,030.10 including interest. 3. Melanie Rivera, 10 Month Secretary – BOE, who terminated effective March 10, 2023. Refund of $2,570.38 including interest. Motion to approve refund/rollover application made by Bob Pounch, seconded by Rich Morelli, all in favor. G. (Formerly F.) Notification of Death: 1. Jeffrey A. Giovanni, Recreation Dept., DOD May 23, 2023, who retired on October 06, 2008. Survivor benefit to be paid to his spouse, Julie, in the amount of $8,995.64. 2. Paul Melling, Sewage Treatment Collection Operator, DOD July 4, 2023, who retired on April 4, 2014. Survivor benefit to be paid to his spouse, Yvette, in the amount of $28,724.39. Motion to acknowledge notification of death made by Bob Pounch, seconded by Rich Morelli, all in favor. H. (Formerly G.) Review of 2022 service-connected disability outside earnings. Board members reviewed and discussed outside earnings report for CY2022. Motion to suspend Peter Casey, William Nash and Barbara Ruffo monthly pension payments until retiree’s provide CY2022 outside earnings to Retirement Plan Administrator was made by Paul Schroder, seconded by Bob Pounch, all in favor. Motion to re-instate Donald Cilley Jr. monthly pension payments made by Paul Schroder, seconded by Bob Pounch, all in favor. I. Employees to be admitted into the City of Norwich Employees’ Retirement Fund: Motion to admit the following employees into the City of Norwich Employee’s Retirement Fund made by Bob Pounch, seconded by Rich Morelli, all in favor. NAME POSITION DATE OF ACADAMY LAST DAY REQUEST/EVAL HIRE GRADUATION ON RECEIVED DATE PROBATION Kendra Cook-Eggert Admin. Specialist 01/09/2023 N/A 07/08/2023 07/08/2023 Pamela Derouin Records Clerk 01/09/2023 N/A 07/08/2023 07/08/2023 Trent Gauthier Utility Construction 01/03/2023 N/A 07/02/2023 06/29/2023 Pipe Fitter J. New Employees: Motion to acknowledge new employees made by Bob Pounch, seconded by Rich Morelli, all in favor. Personnel & Pension Board Minutes Page 4 of 4 July 18, 2023 Regular Meeting Room 213, 2nd floor, 5:00 PM, City Hall Building Norwich, Connecticut 06360 Name Position Date of Hire City/State David Boscana-Santiago Laborer 07/05/2023 Norwich, CT Kyle, Cioffi Technology Support Specialist 06/26/2023 Colchester, CT Liam Darragh Laborer 05/30/2023 Baltic, CT Tanice Doman Assistant Zoning & Blight Enforcement Officer 07/10/2033 New Haven, CT Ryan LaRose Technology Support Specialist 06/26/2023 Danielson, CT IV. Correspondence The Pomerantz Monitor Publication Paul Schroder acknowledged receipt of The Pomerantz Monitor Publication. V. Adjournment Motion to adjourn made by Bob Pounch, seconded by Rich Morelli, all in favor. Meeting was adjourned at 6:31pm. Respectfully submitted, ________________________ Evelyn Lopez, Secretary