741 Colonel Ledyard Highway  
Ledyard, Connecticut 06339  
TOWN OF LEDYARD  
Retirement Board  
Meeting Minutes  
Chairman  
John Rodolico  
Regular Meeting  
Tuesday, September 16, 2025  
10:00 AM  
Council Chambers - Hybrid Format  
I.  
CALL TO ORDER  
The Regular meeting was called to order by Chairman Rodolio at 10:00 a.m.  
Due to technical difficulties the meeting was not recorded.  
II.  
ROLL CALL  
Board Member William Thorne  
Chairperson John Rodolico  
Present  
Board Member Roger Codding  
Board Member Sharon Wadecki  
Excused  
Staff Present:  
Mayor Fred Allyn III  
Christine Dias, Human Resource Director  
Matt Bonin, Finance Director  
Ian Stammel, Assistant Finance Director  
Christina Hostetler, Town Hall Assistant  
III.  
PRESENTATIONS  
IV.  
1.  
REVIEW AND APPROVAL OF MINUTES  
Motion to APPROVE Regular Meeting Minutes from August 19, 2025, as written.  
APPROVED AND SO DECLARED  
William Thorne  
RESULT:  
MOVER:  
John Rodolico  
SECONDER:  
3
1
Thorne Rodolico Codding  
Wadecki  
AYE  
EXCUSED  
V.  
1.  
DIRECTOR OF HUMAN RESOURCES UPDATE  
Director of Human Resources Update.  
Christine Dias, Human Resource Director reported that 36 end of fiscal year benefit statements have  
been prepared and will be sent out in the mail to the pension holders.  
FINANCE DIRECTOR'S REPORT  
VI.  
1.  
Finance Director’s Report.  
Matt Bonin, Finance Director, reported that Frederica Daniels, USI Actuaries, has prepared the  
annual audit disclosure and will be presenting to the Board via zoom during the October 21, 2025,  
meeting.  
VII. OLD BUSINESS  
Retirement Plan for Full-Time Employees of the Town of Ledyard (Defined Benefit Plan)  
1.  
revision update.  
Mr. Thorne has been working with Virginia McGarrity from Virginia McGarrity from Robinson  
& Cole and has a rough draft which he is reviewing. Mr. Thorne asked if USI was told that the  
Board had decided to hire Robinson & Cole to reinstate the retirement plan and did not accept  
their proposal. Ms. Dias said she did inform USI of the Board's decision.  
Any Other Old Business to come before the Board.  
None.  
2.  
VIII. NEW BUSINESS  
Motion to APPROVE the termination benefit for Shawn Schultz in the form of a refund of  
1.  
accumulated member contribution balance (in lieu of a monthly annuity benefit). The  
accumulated employee contribution balances with and without interest will be $29,469.50 and  
$20,582.75, respectively, as of September 1, 2025.  
APPROVED AND SO DECLARED  
John Rodolico  
RESULT:  
MOVER:  
William Thorne  
SECONDER:  
3
1
Thorne Rodolico Codding  
Wadecki  
AYE  
EXCUSED  
Motion to APPROVE payment of invoice #609_09302025, to Fiducient Advisors, dated  
September 9, 2025, in the amount of $12,849.65, for consulting costs for the Town of Ledyard  
Defined Benefit Pension Plan for billing period July 1, 2025, to September 30, 2025.  
2.  
APPROVED AND SO DECLARED  
John Rodolico  
RESULT:  
MOVER:  
William Thorne  
SECONDER:  
3
1
Thorne Rodolico Codding  
Wadecki  
AYE  
EXCUSED  
Motion to APPROVE payment for USI invoice #90114374, dated August 30, 2025, including a  
$400.00 benefit calculation for Shawn Shultz and $8,750 for core installment fee for actuarial  
services plan year 2025, for a total amount of $9,150.00.  
3.  
Mr. Thorne asked how often the core installment fee is paid by the Board. Ms. Dias answered  
twice a year.  
APPROVED AND SO DECLARED  
John Rodolico  
RESULT:  
MOVER:  
William Thorne  
SECONDER:  
3
1
Thorne Rodolico Codding  
Wadecki  
AYE  
EXCUSED  
Any Other New Business to come before the Board.  
None.  
4.  
IX.  
ADJOURNMENT  
The Regular Meeting was ADJOURNED at 10:14 a.m.  
DISCLAIMER: Although we try to be timely and accurate these are not official records of the  
Town.