William Thorne
SECONDER:
AYE
3
2
Thorne Codding Wadecki
Rodolico Panosky
EXCUSED
Motion to APPROVE the Regular Meeting minutes from August 15, 2023, as written.
2.
Although there was not a quorum, the meeting was still held and minutes were provided to
capture the information given during the presentation by Chris Rowlins, Fiducient Advisor.
APPROVED AND SO DECLARED
Sharon Wadecki
RESULT:
MOVER:
William Thorne
SECONDER:
2
2
1
Thorne Wadecki
Rodolico Panosky
Codding
AYE
EXCUSED
ABSTAIN
V.
DIRECTOR OF HUMAN RESOURCES UPDATE
No report.
VI.
FINANCE DIRECTOR'S REPORT
Mr. Bonin reported that Frederica Daniels, USI Actuaries will be present at the Board's November
21, 2023, meeting to discuss the July 1, 2023, Actuarial Valuation.
VII. OLD BUSINESS
Any Other Old Business to come before the Board.
None.
1.
VIII. NEW BUSINESS
Motion to APPROVE retirement benefit for Kenneth Creutz in the amount of $4,886.00 in the
1.
form of a modified cash refund annuity effective September 1, 2023.
Chairperson Wadecki asked why this vote was taken off the August agenda then put back on
today's agenda with the same figures. Marisa Iannella Rodriguez, Human Resource Director
answered that it seemed at first that a recalculation using a date of October 1, 2023, was needed
but the September 1, 2023 date worked appropriately and a recalculation was not needed.
Mr. Thorne asked for clarification - is Kenneth Creutz planning to continue working but under
the defined contribution plan? Ms. Iannella Rodriguez replied yes. It was asked if Mr. Creutz was
required to retire from the plan, it was answered that he was eligible but not required. It was said that
there is nothing in the current retirement plan that would prevent an employee from receiving
retirement and continuing working under the defined retirement plan. Ian Stammel, Assistant
Finance Director added that two other Town employees in other positions have followed a similar
path.