741 Colonel Ledyard Highway  
Ledyard, Connecticut 06339  
TOWN OF LEDYARD  
Retirement Board  
Meeting Minutes  
Chairman  
John Rodolico  
Regular Meeting  
Tuesday, October 17, 2023  
10:00 AM  
Council Chambers - Hybrid Format  
I.  
CALL TO ORDER  
The meeting was called to order by Chairman Rodolico at 10:06 a.m.  
II.  
ROLL CALL  
Board Member William Thorne  
Board Member Roger Codding  
Chairman John Rodolico  
Present  
Board Member Daniel Panosky  
Board Member Sharon Wadecki  
Excused  
Staff present:  
Mayor Fred Allyn III  
Ian Stammel, Assistant Finance Director  
Christina Hostetler, Town Hall Assistant  
Staff Excused:  
Marisa Iannella Rodriguez, Human Resource Director  
Matt Bonin, Finance Director  
III.  
PRESENTATIONS  
None.  
IV.  
1.  
REVIEW AND APPROVAL OF MINUTES  
Motion to APPROVE Regular Meeting Minutes from September 19, 2023, as written.  
Two Board members would vote to abstain since they didn't attend the September meeting  
leaving just two voters, therefore the September minutes vote was moved to the next Regular  
meeting on November 21, 2023, due to lack of quorum.  
TABLED  
RESULT:  
V.  
1.  
DIRECTOR OF HUMAN RESOURCES UPDATE  
Director of Human Resources update.  
Marisa Iannella Rodriguez, Human Resource Director wasn't present for an update. Mayor Fred  
Allyn III reported that there is some continued shuffling with the Library staff hiring. There has  
been a staff departure from the Library system and hiring progress is being made. He added that  
this will not impact the Retirement Board.  
Mr. Thorne asked if two contracts are being negotiated. Mayor Fred Allyn III answered yes, one  
for the Police and one for Dispatch. He added that School Nurses contracts are being looked at.  
Chairman Rodolico asked who would sit in on the negotiations with Ms. Iannella Rodriguez, it  
was answered that a Labor Attorney from Shipman and Goodwin LLP would attend the  
negotiating meetings with her.  
Mayor Fred Allyn III reported that there will be a retirement coming in December for Jean  
Dutton from the VNA department. She has been with the Town of Ledyard for 26 years.  
DISCUSSED  
RESULT:  
VI.  
1.  
FINANCE DIRECTOR'S REPORT  
Finance Director’s Report.  
No Finance report since Matt Bonin, Finance Director is participating in interviews for a new  
Finance Treasurer on the Town of Groton panel.  
VII. OLD BUSINESS  
Any Other Old Business to come before the Board.  
None.  
1.  
VIII. NEW BUSINESS  
Motion to APPROVE payment of invoice #609_09302023, to Fiducient Advisors, dated  
1.  
September 27, 2023, in the amount of $12,112.03, for consulting costs for billing period July 1,  
2023, to September 30, 2023.  
APPROVED AND SO DECLARED  
John Rodolico  
RESULT:  
MOVER:  
William Thorne  
SECONDER:  
4
1
Thorne Codding Rodolico Panosky  
Wadecki  
AYE  
EXCUSED  
Motion to APPROVE amendment to the IPS to reflect changes to allocation targets.  
2.  
Mr. Thorne commented that the IPS referred to in the Fiducient Advisors Quarterly Investment  
Review - Second Quarter 2023 attachment is not the latest version. It was confirmed that the  
correct version has been filed with the Ledyard Town Clerk. The latest version of the IPS, will  
be amended per FA's suggestion on page 13 of the Town of Ledyard - 2Q23 QIR.  
Motion overthrown.  
The Retirement Board will vote during next month's meeting (November 21, 2023) after the  
latest version of the IPS is amended to include Fiducient Advisors recommended updates to the  
target allocation table in Appendix A.  
WITHDRAWN  
John Rodolico  
William Thorne  
RESULT:  
MOVER:  
SECONDER:  
4
1
Thorne Codding Rodolico Panosky  
Wadecki  
AYE  
EXCUSED  
Discussion on a review of applicable labor contracts and retirement documents for Town of  
Ledyard employee groups with applicability to retirement eligibility and benefits.  
3.  
Chairman Rodolico said after a discussion with Mr. Thorne he thought it would be helpful to  
have the different labor union contracts laid out in a simplified manner including such things as  
retirement age and benefits. Often questions come up and having something to refer to would be  
helpful for the Board as there are some significant differences in the several Town unions. Not  
only are there Police and Fire unions but there are also several bargaining unions. He added that  
it could be a living document and when union contracts are negotiated the document could be  
updated.  
Chairman Rodolico said he will work with Marisa Iannella Rodriguez, Human Resource  
Director to come up with a draft.  
ACTION ITEM: Draft a document containing Town of Ledyard labor contracts with  
applicability to retirement eligibility and benefits.  
DISCUSSED  
RESULT:  
Any other New Business to come before the Board.  
4.  
Motion to APPROVE the Retirement Board 2024 meetings, including January 2025 for 10:00  
a.m. on the third Tuesday of each month.  
APPROVED AND SO DECLARED  
John Rodolico  
RESULT:  
MOVER:  
William Thorne  
SECONDER:  
4
1
Thorne Codding Rodolico Panosky  
Wadecki  
AYE  
EXCUSED  
IX.  
ADJOURNMENT  
Motion to ADJOURN the Regular Meeting at 10:32 a.m.  
APPROVED AND SO DECLARED  
John Rodolico  
RESULT:  
MOVER:  
William Thorne  
SECONDER:  
DISCLAIMER: Although we try to be timely and accurate these are not official records of the  
Town.