Louise Mallett-Salem Five Cents Svgs Bank Louise Carvalho-Jeanne D Arc CU
MRPC Minutes
March 17, 2005
Attending:
Louise Mallett-Salem Five Cents Svgs Bank Louise Carvalho-Jeanne D’Arc CU
Darlene Accardi-East Cambridge Savings Sue Dancause-Lawrence Savings Bank
Terry Barile-North Shore Bank Stephanie Freeman-Middlesex Savings
Rhonda Destasio-East Boston Svgs Bank Anne O’Neil-Eastern Bank
Liz Turner-Randolph Savings Bank Arlene Bradley-Randolph Savings Bank
Sharon Ingala-Sharon Co-Operative Bank
The meeting was held at Randolph Savings Bank with the following topics discussed:
Louise Mallett brought the meeting to order around 9:30 a.m. Liz did a wonderful job decorating for the meeting, and gave each member a package of spring flowers. It was also nice to see Terry Barile joining the meetings once again, and getting back into the wonderful world of IRA’s.
Rhonda provided the Treasurer’s report. The balance is $2821.80. Darlene gave the Secretaries report and no changes were necessary to the minutes, and she also passed out an updated members list that will be updated on our website as well. Also email Louise with your system information, and we will update the list again if necessary.
We discussed the new reporting for the 1042-S forms that need to be filed, and reported for foreign Entities, and Nonresident Aliens, that are subject to withholding even if no amount is withheld because of a tax treaty or code exception.
T The open discussion again, was a little of everything, and as always if there is a topic that you would like to discuss at the next meeting, send Louise an email at .
T The group discussed IRA upgrades. It appears that some institutions will upgrade once in the life of the plan, or once a year. We discussed that all paperwork should be signed at the time of a transaction at the branches by the individual that processes the transaction, or a branch manager. If these forms are signed by one of us that the work goes to in the back office, it could possibly turn out to be an internal audit problem in the future, and we are signing forms where we did not do the transaction. HSA accounts are still not a big item around here at this time, because no company in mass is registered/liscensed to offer them.
T We are considering the Spirit of Boston Cruise for the June meeting scheduled for Friday, June 17th 2005, but would really appreciate input of where people would like to go. If anyone has other suggestions, please email Louise at .
T It is that time again to form a nominating committee for this year. Anyone wishing to serve in this capacity, please contact either myself at , or Louise Mallett at the above email address.
The next meeting will be at Lawrence Savings Bank on April 21, 2005 at 9:30 am. If you will be
Attending the meeting, please send Sue Dancause an email at .
Darlene Accardi- Retirement Plans Manager
Secretary – MRPC