Friday, July 27 Retirement Board Meeting Agenda

Section I: Regular Business:

Minutes:

Minutes of June 22, 2018                                           Regular Meeting                                     

Warrants: 

Warrant #5 Dated May 31, 2018                                $       3,422,741.10 Final

Warrant #6 Dated June 30, 2018                                $       1,849,408.16 Partial

Warrant #7 Dated July 31, 2018                                 $       3,220,527.23 Partial

Warrant #8 Dated August 31, 2018                            $       3,168,997.34 Partial

Trial Balance as of May 31, 2018                              $          171,950,681.38                                                 

Public Comment:

New/Old Business:

PERAC Emerging Issues Forum:

PERAC will host its annual Emerging Issues Forum at the College of the Holy Cross, on September 13, 2018.  Board vote for attendance.

Independent Audit:

Board to review draft copy financial statements for year ended December 31, 2017, prepared by Powers & Sullivan.

PERAC MEMOS:

Memo #19/2018:         Tobacco Company List

Memo #20/2018:         PROSPER and Compliance with the 91A Process

Memo #21/2018:         Mandatory Retirement Board Member Training – 3rd Quarter 2018

Investments:

Anthony Tranghese of FIA will discuss:

Investment portfolio reviews
Update on the asset allocation and performance

Section II: Membership:

New Hires:

Town:

9%       Anderson, Connor, Group 1, Records Access Officer/Archivist

            Perm. Full-time: $1,042.99 weekly

            Start Date: July 9, 2018

9%       Baldassini, Daniel, Group 1, Dispatcher

            Perm. Full-time: $783.23 weekly

            Start Date: July 1, 2018

9%       Dwyer, Amy, Group 1, Internal Auditor – Finance

            Perm. Full-time: $1,098.68 weekly

            Start Date: June 11, 2018

9%       Savery, Dawn, Group 1, Dispatcher

            Perm. Full-time: $ 783.23 weekly

            Start Date: August 1, 2018

School:

9%       Dowling, Donald, Group 1, Custodian

            Perm. Full-time: $1,560.15 bi-weekly

            Start Date: July 9, 2018

9%       Sutherland, Brian, Group 1, Custodian

            Perm. Full-time: $1,560.15 bi-weekly

            Start Date: July 9, 2018

Refunds:

Town:

Hickey, Kevin, Group 1, Custodian

Two (2) Years, Nine (9) Months Creditable Service (8/10/2015-6/8/2018)

Total Refund Including FWT: $11,299.51

Retirements:

Town:

DaCosta, Gerald, Group 1, Special Heavy Motor Equip Operator

14 years, 2 months creditable service

Superannuation retirement, opt a

Retirement date: July 13, 2018

School:

Silva, Robert W., Group 1, Maintenance Worker

Thirty -Six (36) Years Creditable Service

Superannuation retirement, opt c

Retirement Date: July 12, 2018

Section 101 Survivor Benefits:

Mary Diodato, spouse of deceased ADR, opt b retiree Richard Diodato. Mr. Diodato retired 6/17/1972.  Mr. Diodato retired under ADR before 1996, therefore, Mrs. Diodato is eligible to receive a Section 101 survivor benefit of $9,000 per year. 

Katherine Turner, spouse of deceased ADR, opt b retiree Robert Turner. Mr. Turner retired 5/31/1982.  Mr. Turner retired under ADR before 1996, therefore Mrs. Turner is eligible to receive a Section 101 survivor benefit of $9,000 per year.

Executive Session:

Pursuant to MGL Chapter 30A, Section 21 (a)(3), the Board will enter into executive session to discuss ongoing litigation.

Next Meeting: