Finance Committee - 11/15/2018 Page 7
Alderman Caron
Who got the annual report? You don’t send that out to your pensioners do you?
Mr. Danielson
We don’t have the e-mail addresses of the pensioners.
Alderman Caron
So really they don’t know unless they happen to hear about it.
Mr. Danielson
Correct. They would have to speak with somebody active or check the website.
Alderman Caron
| guess there are some concerns because you are dealing with employees who have been getting weekly
checks forever and a day and then to get this dumped on them, | think they need to have an advance on that,
you know?
Mr. Danielson
Mr. Mayor, we understand that. But the fact is, | don’t think you can find many groups that are retired that get
weekly pension checks, it is usually monthly including social security. So they are going to be notified ahead of
time so they will be fully aware of it and they are going to be paid, the plan is, now I’m not sure if it is going to
work that way, but the plan is that they would get their last check in the last week of June and the first week of
July they would get the whole four weeks. So it shouldn’t be a problem for them but they will be notified of that.
Alderman Caron
| think it’s important.
Mr. Danielson
Yes | do too.
Alderman Caron
If we can update | don’t have a problem with that but you are talking about people who have been getting
checks for 30 years and you want them to know. And a lot of them don’t use computers so they don’t have
access to that kind of thing. But | think it is a great idea if we can outsource it.
Alderman O’Brien
Thank you and Alderman Caron what you say is so true. At these trustees meetings we do take into account,
we do have sometimes visitors of people who have retired, they are welcome to the trustee meetings and they
have shown up. And yes, some of them are not computer savvy and everything else, and we are trying to take
that all into account. And like Mr. Fredette has mentioned, | think this will be a better program for both the
beneficiaries our employees and retirees and for the City. This follows like with the other pension plans,
where if you’ve got a pension plan with the State, it does come monthly and not weekly. We are very unique
with the weekly. So this kind of saves in itself in some of the administration costs from going monthly to
weekly.
