June 23, 2017 - Retirement Board Meeting Agenda

Section I: Regular Business:

Minutes:

Minutes of May 19, 2017                                           Regular Meeting

Minutes of May 19, 2017                                           Executive Session              

Warrants:                                   

Warrant #4 Dated April 30, 2017:                              $ 3,502,078.94 Final

Warrant #5 Dated May 31, 2017:                               $ 1,614,783.90 Partial

Warrant #6 Dated June 30, 2017                                $   189, 833.23 Partial

Warrant #7 Dated July 31, 2017                                 $ 2,833,911.19 Partial          

Trial Balance as of April 30, 2017:                             $ 155,814,958.05       

Public Comment:

New/Old Business:

Board Member Re-appointment:

Re-appointment of Shawn Duhamel to the Plymouth Retirement Board.  Mr. Duhamel has served on the Retirement Board since October 20, 1999.

Laptop Purchases:

Clever Minds has advised that the office laptop, purchased in July 2011, should be upgraded. Permission to purchase new laptop?

PERAC MEMOS:

Memo #18/2017: Tobacco Company List

Memo #19/2017: PROSPER System Changes

Investments:

Memo from Fiduciary Investment Advisors regarding the retirement of Dennis Stattman, BlackRock’s Global Allocation Strategy portfolio manager.

Boston Trust – Fees:

On May 19, 2017, the Board voted the retain Boston Trust while reviewing the respondents of the RFP for small cap managers.  This vote was contingent upon Boston Trust lowering their fee structure.  Mr. Tranghese has reported that Boston Trust has agreed to reduce fees to 0.75% on the first $5M; 0.70% on the next $5M, 0.6% on the balance – a total reduction of approximately $11,200 per year.   Board to vote on fee structure negotiation.

Public Records Guidelines:

Board to discuss and vote the Guidelines for Requesting Public Records.

Section II: Membership:

New Hires:

Town:

9%       Dillon, Ann, Group 1, Administrative Secretary

Perm. Full-time: $730.32 weekly

Start Date: May 30, 2017

9%       Howley, Kristin, Group 1, Administrative Secretary

            Perm. Full-time: $752.24 weekly

            Start Date: June 12, 2017

School:

9%       Wood, Stephanie, Group 1, Data Processing Secretary

            Perm. Full-time: $1,453.50 bi-weekly

            Start Date: June 5, 2017

PHA:

9%       Swift, Ashley, Group 1, Administrative Assistant

            Perm. Full-time: $650.25 weekly

            Start Date: May 15, 2017

Refunds:

Town:

Coville, Michael, Group 1, Meter Reader/Repairman

Twelve (12) Years, Nine (9) Months Creditable Service (8/16/2004-5/17/2017)

Total Refund Including FWT: $44,713.11

Davis, Anthony, Group 1, Meter Reader/Repairman

Eleven (11) Years, Three (3) Months Creditable Service (2/11/06-5/17/17)

Total Refund Including FWT: $39,747.36

Young, Stephen P, Group 4, Firefighter

Nine (9) Years Creditable Service (4/7/2008-4/13/2017)

Total Refund Including FWT: $58,824.11

Total Non-Taxable Refund: $339.80

School:

Gilbert, Linda, Group 1, Special Needs Aide

Four (4) Months Creditable Service (1/17/06-6/13/2006)

Total Refund: $158.77

Hogan, Kristen, Group 1, ASL Interpreter

Ten (10) Months Creditable Service (7/1/2016-5/26/2017)

Total Refund Including FWT: $5,329.65

Rollovers:

School:

Parks, Kelly, Group 1, Paraprofessional

Seven (7) Years, Four (4) Months Creditable Service (3/19/2007-8/15/2014)

Total Rollover: $7,902.08

Transfers:

Town:

Ripley, George, Group 1, Librarian

One (1) Year, One (1) Month Creditable Service (2/29/2016-4/28/2017)

Transfer to New Bedford Retirement Board: $22,213.65

School:

Converse, Brian, Group 1, Asst. Director of Accountability & Measurement

Two (2) Years, Nine (9) Months Creditable Service (7/1/2014-4/12/2017)

Transfer to Plymouth County Retirement Board: $23,330.37

Genduso, Michelle, Group 1, Data Processing Secretary

Seven (7) Years, Three (3) Months Creditable Service (3/29/2010-4/11/2017)

Transfer to Barnstable County Retirement: $21,409.96

Retirements:

Town:

Murphy, Kathleen, M., Group 1, Library

Twenty-Five (25) Years, Three (3) Months

Superannuation Retirement opt b

Retirement Date: July 1, 2017

Ness, Beverly, J. Group 1, Library Associate

Twenty-Eight Years (28), Five (5) Months

Superannuation Retirement opt b

Retirement Date: July 1, 2017

PHA:

Rodrigue, Joanne M., Group 1, Clerical

Eighteen (18) Years, Two (2) Months Creditable Service

Superannuation Retirement opt c

Retirement Date: June 30, 2017

Section IV: Executive Session:

Pursuant to MGL Chapter 30A, Section 21 (a)(1). The Board will enter into executive session to review the Regional Medical Panel findings for the Involuntary Accidental Disability Application of Chad McGee and vote his application.

Pursuant to MGL Chapter 30A, Section 21 (a)(3), the Board will enter into executive session to hear from its Attorney regarding ongoing litigation.