Michael Sacco

The board addressed several administrative and personnel matters, including the enrollment of new members, the awarding of retirement benefits, survivor benefits, and creditable service awards. Liability requests were decided, and various financial warrants were approved, including refund, retiree payroll, employee payroll, and cash disbursements. The board also awarded a contract for database services, updated the board member election schedule, and approved election material printing costs. Additionally, the board acted on several internal human resources items such as job position descriptions for deputy and retirement counselor roles, authorized remote work policies, amended longevity pay structures, and adjusted retirement calculation requirements.

The board addressed several administrative and operational matters, including the enrollment of new members, the awarding of superannuation retirement benefits, and the granting of creditable service. The board reviewed and approved financial documents, including refund warrants, retirement payroll for two months, and a cash disbursement warrant. Additionally, the board authorized an amendment to an investment fund agreement, reviewed the progress of the board member election, discussed staffing updates, approved the final draft of the 2021 administrative budget, and received updates on the 2020 census, HVAC repairs, and a new phone system project. The meeting concluded with the approval of a web hosting agreement and an investment strategy presentation.

The Board addressed multiple agenda items including the termination of benefit payments pursuant to MGL Chapter 32, Section 91A, the enrollment of new members into the retirement system, and the awarding of retirement benefits and creditable service to various individuals. The meeting also involved the approval of refund warrants, retiree payroll, and employee payroll. Furthermore, the Board reviewed and approved cash disbursement warrants, discussed the posting of a Membership Coordinator position, and approved a job description for a temporary Retirement Associate. Decisions were made regarding a late appropriation payment request from the Town of Lynnfield, the removal of the retirement system from the annual appropriation beginning in FY2023, the extension of an agreement with Ascent Venture Partners for Fund V, and an update on the ongoing board election process.

The board discussed and acted upon several matters, including the approval of new retirement benefits for four individuals and the granting of creditable service to two members. Liability requests were addressed, and a refund warrant for nineteen members was approved. The board also authorized monthly retirement allowance payments, staff payroll, and a cash disbursement warrant. A review was conducted regarding the implementation challenges of the PTG database employer reporting module, with a follow-up meeting scheduled. Additionally, in executive session, the board acted on a disability retirement application, resulting in the denial of accidental disability and the approval of ordinary disability retirement.

The Board addressed new employee enrollments, superannuation retirement benefits, an ordinary disability retirement benefit, a survivor benefit, and a creditable service award. Liability requests from other retirement boards were reviewed and denied. The Board approved various financial items, including the November 2019 refund warrant, retirement payrolls for October and November, ERRS employee payrolls, and several cash disbursement warrants including payments for administrative expenses and a capital call. Additionally, the Board certified election results for the third and fourth members, approved 2020 office closing dates and meeting dates, adopted the 2020 cash flow plan, approved administrative budget transfers, and discussed the deferred compensation plan. A policy change regarding premium holiday pay for police officers and firefighters was enacted. Finally, the Board held an executive session to discuss a disability application and litigation strategy, resulting in the approval of an accidental disability application.