Jon Paul Charow

The board discussed the status of missing executive session minutes and the procedure for their future approval. Other agenda items included a progress report on an inventory of documents previously shared with an IT vendor, a review of the Berkshire County election process and relevant PERAC memos regarding COLA, interest rates, and pension compensation limits. The board also reviewed recent court decisions concerning temporary pay as regular compensation and planned an upcoming informational breakfast meeting for town treasurers and managers regarding retirement funding.

Key discussions during the meeting involved several significant topics. The Board convened in Executive Session to discuss litigation strategy in the LaBarbera matter and voted to accept a settlement agreement with an addendum regarding pensionable wages. Legal updates included the announcement of a new assistant counsel and legislative changes affecting the definition of 'wages' and Section 100 benefits. The Board reviewed the annual performance of the PRIM fund, noting a 9.6% return for the one-year period ending June 30, 2025, and the overall structure of asset management philosophies focusing on returns, risk, and expenses. New Business included a detailed discussion on contract negotiations for the executive director, resulting in a unanimous vote to authorize the Executive Director and legal counsel to negotiate a contract with the Executive Director. Furthermore, the Board discussed a proposal for the promotion and salary increase for the assistant director, considering peer salary benchmarks, with a motion proposed to increase the salary to $85,000 effective immediately.

The meeting addressed several key legal and administrative items. Discussions focused on establishing a procedure for approving older executive session minutes lacking sufficient board members for execution, noting that open meeting law does not mandate timely approval of executive session minutes. The board reviewed a PERAC memo regarding COLA payments for surviving spouses under Section 100 benefits, noting that Berkshire County currently has no such recipients. The board approved the consent agenda, which included the approval of the October 29, 2025 minutes. Key new business included the review and approval of the draft financial audit conducted by CBIZ, which showed no findings, and the approval of a contract with the executive director, including establishing a three-year salary structure supported by market surveys. The proposed 2026 annual budget was reviewed, noting increases in accounting services costs and the introduction of a budget line item for an investment consultant to advise on increasing the funding level target towards 110-115%. A director's update covered the need to purchase a new laptop for the director and reviewed the final actuarial valuation showing the system is currently funded at 99.6% with the existing COLA base.

Key discussions during the meeting included the approval of monthly warrants, various requests for retirement, member transfers out of the system, and requests for service buybacks. The Board also approved several member refund applications and new member applications. A significant portion of the meeting was dedicated to the interviews and deliberation for the appointment of the fifth Board member, which resulted in a tied vote for both candidates considered. Legal updates covered filing an objection in the Mendel case, which DALA decided was flawed, and ongoing issues related to regular compensation challenges, specifically concerning payments for working out of grade. The Board unanimously approved an amendment to the AccessPlus contract to switch to hardwired internet service, resulting in monthly savings.

The meeting included an executive session to vote on the Adversary Disability Retirement (ADR) benefits for Kurt Degrenier. Key new business involved the approval of the ADR benefit for Mr. Degrenier and the approval of a 3% Cost of Living Adjustment (COLA) for retirees who retired before June 30, 2024, effective July 1, 2025. The Board unanimously denied Erik Forsberg's request to change his membership date based on legal counsel advice. Legal updates covered the PERAC remand for K Larkin, the ongoing Lisa Mandel case, a recent CRAB decision concerning accidental death benefits during travel after a required conference, and percolating issues regarding stipends not qualifying as regular compensation. Investment performance for March 2025 was reported, showing a return of -1.59%. The Board approved several monthly payment vouchers, granted superannuation retirement applications for three members, approved member account transfers out of the system, and addressed multiple requests and recalculations for service buybacks. The Board also approved applications for new members to join the system and approved travel expenses for staff to attend the MACRS Conference.