PENSION AND RETIREE BENEFITS BOARD WEDNESDAY, 26, 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 May 26, 2021 Pension and Retiree Benefits Board Meeting was accessible through Microsoft Teams by dialing +1 929-235-8441, access code 297 948 365#. This call was recorded.

Clerk took roll call and the meeting was called to order by Chairman Lee Griffin at 5:48 P.M.

PRESENT: Lee Griffin, Chairman Connor Martin, Member Ellen McCreery, Member Marcus Rice, Member

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

1. PUBLIC PARTICIPATION: None

2. ACCEPTANCE OF MINUTES: a. Acceptance of 28, 2021 Regular Meeting Minutes with a change of next meeting’s date from , 2021 to May 26, 2021

Motion by Mr. Martin, seconded by Mr. Rice to Accept the of Minutes of the , 2021 Regular Meeting Minutes with a change of next meeting’s date from May 19, 2021 to May 26, 2021. Motion was voted; Motion was approved.

3. COMMUNICATIONS: None

Withdrawals of Contributions: None

4. OLD BUSINESS: None

5. NEW BUSINESS: None

6. REPORTS: a. Pensions and OPEB Trust: 1. Summary of Portfolio Asset – April 2021 – Linda Trzetziak 2. Summary of Expenses – April 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 April 30, 2021 for both the Pension and OPEB accounts which were valued at $80,600,699 and $6,486,671 respectively.

FISC 1MO YTD 1YR 3YR 5YR Pension 0.8 2.8 5.6 4.9 3.9 Benchmark 0.8 -0.6 0.7 5.0 3.2

OPEB 1.0 2.2 4.9 5.8 4.2 Benchmark 0.8 -1.0 0.1 5.1 3.2

4. 3 D Asset Management Report – John O’Connor, Matt Fratini

Mr. O’Connor and Mr. Lavine reviewed The 3D Asset Management report for Pension and OPEB as of April 30, 2021. It shows the Equity portion of the investment value is at $171,893,051.06 and $9,672,082.93 respectively.

MTD YTD 1YR 3YR 5YR Pension Investment 3.25 12.10 44.77 7.51 10.42 Pension Cash 0.00 0.00 0.01 0.41 0.28

OPEB 3.14 11.50 42.68 6.98 9.93

7. APPROVAL OF DISBURSEMENTS: a. FIA Invoice #0003522101 Quarterly Fee dated 3/31/21 $8,750.00 b. Segal Invoice #411413 dated 5/24/21 $ 425.00 c. Clerk for Pension & Ret. Benefit Board Meeting April 28, 2021 $ 125.00

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

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

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

8. QUESTIONS BY BOARD MEMBERS: Ms. McCreery and Mr. Martin asked questions and a brief discussion ensued.

9. ADJOURNMENT: There being no further business,

Motion by Mr.Martin, seconded by Ms. McCreery to adjourn meeting at 6:39 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, 23, 2021.

Respectfully submitted, Elizabeth Watson, Clerk