February 15, 2019 Retirement Board Meeting
Section I: Regular Business:
Minutes:
Minutes of January 25, 2019 COLA Vote
Minutes of January 25, 2019 Regular Meeting
Minutes of January 25, 2019 Executive Session
Warrants:
Warrant #12 Dated December 31, 2018 $ 2,962,830.64 Partial
Warrant #1 Dated January 31, 2019 $ 2,053,100.75 Partial
Warrant #2 Dated February 1, 2019 $ 121,712.23 Partial
Warrant #3 Dated March 31, 2019 $ 4,084.34 Partial
Trial Balance as of December 31, 2018: $169,276,639.91
Public Comment:
New/Old Business:
Draft Audit of Specific Elements, Accounts & Items of the Financial Statements
Board to review draft copy of Audit of Specific Elements, Accounts & Item of the Financial Statements, for year ended December 31, 2017, prepared by Powers & Sullivan.
Actuarial Valuation 1/1/19:
Board to discuss and vote on the preparation of the January 1, 2019 Actuarial Valuation.
Retirement Board Election:
Board to appoint an election officer for the coordination of all upcoming election activity.
Board to review draft Retirement Board Election schedule.
Board to vote on type of election: Mail-in or walk-in ballots.
PERAC MEMOS:
Memo #7/2019: Buyback and Make-up Repayment Worksheets
Memo #8/2019: 2019 Interest Rate set at 0.1%
Memo #9/2019: Accounting Changes
Memo #10/2019: Administrative Reminders
Memo #11/2019: Workers’ Compensation Data Match in PROSPER
Investments:
Anthony Tranghese will give the portfolio update and review
Section II: Membership:
New Hires:
Town:
9% Cabral-Seabury, Melissa, Group 1, Library Associate
Perm. Full-time: $767.24 weekly
Start Date: February 13, 2019
9% Coffin, Marianne, Group 1, Administrative Secretary-Building Dept
Perm. Full-time: $752.24 weekly
Start Date: February 25, 2019
9% Coburn, Shawn, Group 4, Firefighter
Perm. Full-time: $1,037.83 weekly
Start Date: February 18, 2018
9% Petitti, Jr., Thomas, Group 4, Police Officer
Perm. Full-time: $996.32 weekly
Start Date: February 4, 2019
9% Randall, Robert, Group 4, Police Officer
Perm. Full-time: $996.32 weekly
Start Date: February 4, 2019
PHA:
9% Kirwan, Jennifer, Group 1, Administrative Clerk
Perm. Full-time: $1,538.25 bi-weekly
Start Date: January 23, 2019
Buybacks:
Town:
Boyles, Kristine, Group 1, Library Associate, has requested to purchase prior part-time service from August 1, 2017 through September 25, 2018 with the Town of Plymouth – Library.
Total Amount of Buyback: $638.73
School:
Dailey, Janine, Group 1, Special Needs Department Secretary, has requested to purchase prior part-time service from September 26, 2016 through August 15, 2018 with the Town of Plymouth School Department. Total Buyback Amount: $1,809.48
Refunds:
School:
Daniels, Sasha, Group 1, Registered Behavior Technician
Five (5) Years, Eleven (11) Months Creditable Service (2/4/2015-9/28/2018)
Total Refund Including FWT: $17,575.63
Irwin, Matthew, Group 1, Computer Technician
Six (6) Years, Eleven (11) Months Creditable Service (7/25/2011-6/29/2018)
Total Refund Including FWT: $38,973.59
Transfers:
Town:
Savery, Dawn, Group 1, Dispatcher
Four (4) Months Creditable Service (8/1/2018-12/6/2018)
Total Transfer to Norfolk County Retirement Board: $1,438.83
Request to Change Group Classification Status:
John Amaral, Plymouth Public Schools Truant Officer, has sent request to the Board to change his Group Classification to Group 2 or Group 4.
Section III:
Executive Session:
Pursuant to MGL Chapter 30A, Section 21 (a)(1), the Board will enter into executive session to vote the Accidental Retirement Disability Application of Officer Stephen Powers.
Pursuant to MGL Chapter 30A, Section 21 (a)(3), the Board will enter into executive session to discuss ongoing litigation.