Retirement Commission - Minutes - 07/21/2021

Retirement Commission Wednesday, July 21, 2021
Meeting Minutes 5:00pm
Zoom Meeting
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Present: Chair Susan Driscoll, Mark Gelinas, Marcia Benvenuti, Richard Mu dbe
Brule, First Selectman “E ©
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Absent: Kevin Petchark =
Staff: Kimberly Allen, Director of Finance, Abbas Danesh, Treasurer and Maryelgn 2
McConnell, Secretary
1. Establishment of a quorum and call to order:
A quorum was established and a call to order was established at 5:00 pm,
July 21, 2021.
2. Approval of minutes from the meetings of January 21, 2021, and the June 23,
2021 meeting
Amend motion on the January 21, 2021, meeting as they were not posted to the
Town of Waterford website.
Motion by Richard Muckle and seconded by Marcia Benvenuti to approve the
January 21, 2021 minutes.
Vote: 4-0-1 Abstain: 1 (Mark Gelinas) Motion: Passed
Motion by Marcia Benvenuti and seconded by Mark Gelinas to approve the
minutes of June 23, 2021.
Vote: 5-0-0 Motion: Passed
3. Discussion of Waterford Pension and OPEB Plans performance submitted by
Devon Francis with Fiducient Advisors, formerly FIA/Di Meo Schneider:
Discussion ensued with Devon Francis on the quarterly investment review for the
second quarter of 2021.
Motion by Marcia Benvenuti and seconded by Richard Muckle to approve the
adjustments to the pension portfolio allocations as presented by Devon Francis.
Vote: 5-0-0 , Motion: Passed

OPEB Valuation: Discussion ensued with Stephen Chykirda, Actuary with Hooker
& Holcombe regarding the Actuarial Valuation.
New Business: The next meeting of the Retirement Commission will be held in
person at the Waterford Town Hall at 5:30pm on November 17, 2021.
Adjournment:
Motion by Richard Muckle and seconded by Marcia Benvenuti to adjourn the
Meeting of the Retirement Commission at 6:00 p.m.
Vote: 5-0-0 Motion: Passed
Respectfully submitted,
Maryellen NcConnell, Secretary