MUNICIPAL OPERATIONS COMMITTEE
APRIL 12, 2005
Convened: 5:40 P.M.
Adjourned: 7:02 P.M.
Present: Councillor Paul P. Clancy, Jr., Chairman
Councillor Joseph M. Petty
Councillor Philip P. Palmieri
James DelSignore, City Auditor
John Pranckevicious, Budget Director
Mary Babbidge, Asst. City Clerk
Also Present: Kathy Riley, Actuary, Retirement System, Segal Co.
Chris Rogers, Sullivan & Rogers, City’s Independent Auditor
David Kornwitz, Private Actuary, Chairman, Wellesley Retirement Board
Eric Berman, Deputy Comptroller of the Commonwealth
Joseph Connarton, Executive Director PERAC
Slide presentations were made by Kathy Riley and David Kornwitz. Eric Berman spoke.
Chairman’s Orders –
Request Administration report as to implementation dates for actuarial study relative to OPEB.
Request Administration report as to whether Worcester will qualify for reimbursement under Medicare Part D if the City provides Canadian drugs to employees and retirees.
Request City Auditor report as to number of retirees paying 25%, 16%, 13% and 10% of health insurance benefits.
Request City Auditor provide City Council with an overview of OPEB.
Request Administration report as to steps that need to be taken by the City to provide data to an actuary in order that a proper application can be made by the September 30, 2005 deadline to receive reimbursement under Medicare Part D.
Request Administration request an actuarial equivalence attestation review in order for the City to qualify for reimbursement under Medicare Part D.
1. Transmitting report regarding post retirement cost of healthcare and life insurance.
#15 CC March 8, 2005
2. Transmitting City’s Single Audit for year ended June 30, 2004.
#39 CC March 29, 2005
3. Transmitting communications relative to potential increases under MGL Chapter 32, Sections 90A, C, D & E and request for information relative to January 1998 Retirement Board meeting minutes and how Retirement system assets are valuated.
#40 CC March 29, 2005
4. Transmitting article as a possible solution to OPEB liability.
#41 CC March 29, 2005
5. Transmitting City’s Management Letter for year ended June 30, 2004.
#38 CC March 29, 2005
6. Communication of Thomas A. Hickey, III transmitting response to request made of City Auditor relative to the Retirement Board.
#41a CC March 29, 2005