TO BE APPROVED AT THE NEXT BOARD MEETING

PENSION AND RETIREE BENEFITS BOARD WEDNESDAY, 24, 2021 – 5:45 PM REGULAR MEETING MINUTES

Due to the coronavirus outbreak, Town Hall is closed. Pursuant to Governor Lamont’s Executive Order No. 7B, the February 24, 2021 Pension and Retiree Benefits Board Meeting was accessible through Microsoft Teams by dialing +1 929- 235-8441, access code 394 078 519#. This call was recorded.

Clerk took roll call and the meeting was called to order by Chairman Lee Griffin at 5:47 P.M.

PRESENT: Lee Griffin – Chairman Scott Thompson, Member Ellen McCreery, Member Connor Martin, Member

ALSO PRESENT: Linda Trzetziak, Director of Finance Chris Kachmar, FIA John O’Connor, 3D Ben Lavine, 3D

1. PUBLIC PARTICIPATION: None

2. ACCEPTANCE OF MINUTES:

a. Acceptance of Minutes of Special Meeting of 27, 2021

Motion by Ms. McCreery, seconded by Mr. Thompson to Accept the of Minutes of the , 2021 Regular Meeting. Motion was voted; Motion was approved.

3. COMMUNICATIONS: a. Debra Dolan – BOE retired 12/23/2020 b. Nancy Tierinni – BOE retired 1/5/2021 c. Joseph Cassello – Town retired 1/22/2021

Withdrawals of Contributions: None

4. OLD BUSINESS: None

5. NEW BUSINESS: Discussion of IME, Service Connected Disability

Motion made by Ellen McCreery, seconded by Mr. Thompson to amend agenda and go to 7a. Motion was voted; Motion was approved.

Pension & Retiree Benefits Board 2/24/2021 TO BE APPROVED AT THE NEXT BOARD MEETING

6. REPORTS: a. Pensions and OPEB Trust: 1. Summary of Portfolio Asset – January 2021 – Linda Trzetziak 2. Summary of Expenses –January 2021 – Linda Trzetziak

Ms. Trzetziak summarized the Market Value of Investments spreadsheet and the Pension and OPEB Funds Year to Date Budget reports as of , 2021.

3. Fiduciary Investment Advisors, LLC Report – Chris Kachmar

Mr. Kachmar reviewed the Fixed Income Account Report as of January 2021 for both the Pension and OPEB accounts which were valued at $81,380,558 and $5,494,486 respectively.

FISC MTD YTD 1YR. 3YR 5YR Pension -0.4 3.8 6.0 5.0 4.5 Benchmark -0.7 1.3 4.9 5.3 4.2

OPEB -0.7 3.5 6.6 5.9 4.9 Benchmark -0.7 0.7 4.7 5.4 3.9

4. 3 D Asset Management Report – John O’Connor, Ben Lavine

Mr. O’Connor and Mr. Lavine reviewed The 3D Asset Management report for Pension and OPEB as of 31, 2020. It shows the Equity portion of the investment value is at $159,772,887.47 and $10,411,455.29 respectively. MTD YTD 1YR 3YR 5YR Pension Investment 0.02 0.02 6.24 1.89 9.52 Pension Cash 0.00 0.00 0.06 0.43 0.28

OPEB 0.03 0.03 5.92 1.60 9.19

7. APPROVAL OF DISBURSEMENTS: a. St. Francis Invoice $1,650.00 b. Segal Invoice #404707 dated 2/22/21 $2,950.00 c. Clerk for Pension & Ret. Benefit Board Meeting , 2020 $ 125.00

Motion by Ms. McCreery, seconded by Mr. Thompson to approve disbursement 7a. Motion was voted; Motion was unanimously approved.

Motion by Ms. McCreery, seconded by Mr. Thompson to approve disbursement 7b. Motion was voted; Motion was unanimously approved.

Motion by Mr. Thompson, seconded by Ms. McCreery to approve disbursement 7c. Motion was voted; Motion was unanimously approved.

8. QUESTIONS BY BOARD MEMBERS: None

Pension & Retiree Benefits Board 2/24/2021 TO BE APPROVED AT THE NEXT BOARD MEETING

9. ADJOURNMENT: There being no further business,

Motion by Mr. Thompson, seconded by Mr. Martin to adjourn meeting at 6:21 PM. Motion was voted; Motion was unanimously approved.

The next regular meeting of the Pension and Retirement Benefits Board is scheduled at 5:45 on Wednesday, 24, 2021.

Respectfully submitted, Elizabeth Watson, Clerk

Pension & Retiree Benefits Board 2/24/2021