November 2022 Retirement Board Meeting
Pursuant to Governor Baker’s March 12, 2020, Order Suspending Certain Provisions of the Open Meeting Law, G.L. c. 30A, §18, and the Governor’s March 15, 2020, Order imposing strict limitations on the number of people that may gather in one place, this meeting of the Plymouth Retirement Board is being conducted via remote participation. No in-person attendance of members of the public will be permitted, but every effort will be made to ensure that the public can adequately access the proceedings as provided for in the Order.
Any member of the public that wishes to join the Plymouth Retirement Board Meeting remotely may call the Retirement Office at (508) 830-4170 or send an email to:
Section I: Regular Business:
Minutes:
Minutes of July 29, 2022 Regular Session
Minutes of August 26, 2022 Regular Session
Minutes of August 26, 2022 Executive Session
Warrants:
Warrant #9 Dated September 30, 2022 $ 4,219,419.07 Final
Warrant #10 Dated October 31, 2022 $ 2,325,036.91 Partial
Warrant #11 Dated November 30, 2022 $ 3,178,574.24 Partial
Warrant #12 Dated December 31, 2022 $ 6,556.00 Partial
Trial Balance as of September 30, 2022 $ 229,336,048.71
September 2022 Accounting Reports Presented to Board for Review:
Rockland Trust Checking & Money Market Acct Statements
Treasurer’s Reconciliations of RTC Checking & Money Market Accts
Trial Balance
Cash Receipts
Cash Disbursements
Adjustments
Public Comment:
New/Old Business:
Board to discuss the impact of an accidental disability retirement benefit on the System’s funding schedule. In attendance will be School Superintendent Christopher Campbell, Town Manager Derek Brindisi, and Plymouth Housing Director Geraldine Riendeau.
PERAC Memos:
Memo #28/2022: 840 CMR 28.00 Electronic Signatures
2023 Budget:
Draft 2023 Budget for review and vote.
Investment Consultant Services RFP:
Draft RFP for investment consulting services for review and vote.
Independent Audit:
Audit engagement letter for the years ended December 31, 2022, 2023 and 2024, with the option to extend for 2025 and 2026 at no additional cost. No increase in fees from current contract.
Draft Audit of Specific Elements, Accounts & Items of Financial Statement for year ended December 31, 2021, prepared by Powers & Sullivan, to be reviewed and voted by Board.
Investments:
Anthony Tranghese from Fiducient Advisors will give a Portfolio Update & Review.
Annual Investment Manager Reviews:
Aristotle
Boston Trust
PRIT
Section II: Membership:
New Hires:
Town:
9% Moran, Lindsey, Group 1, Animal Control Officer
Perm. Full-time: $1,032.18 weekly
Start Date: November 2, 2022
9% Walsh, Joanne. Group 1, Administrative Assistant-Collector/Treasurer
Perm. Full-time: $930.92 weekly
Start Date: November 28, 2022
School:
9% Allen, Jamie, Group 1, Registered Behavior Technician
Perm. Full-time: $1849.56 bi-weekly
Start Date: October 24, 2022 (Re-hire)
9% Freer, Erin, Group 1. Paraprofessional
One-Year Appt – Full-time: $1,294.39 bi-weekly
Start Date: October 31, 2022
9% Panicci, Coralee, Group 1, Main Office Secretary
Perm. Full-time: $1,222.19 bi-weekly
Start Date: November 7, 2022
9% Patel, Aman, Group 1, Paraprofessional
Perm. Full-time: $980.91 bi-weekly
Start Date: November 2, 2022
9% Rains, Bridget, Group 1, Paraprofessional
Perm. Full-time: $1,135.42 bi-weekly
Start Date: November 9, 2022
9% Robertson, Kim, Group 1, Food Services Team Leader
Perm. Full-time: $825.30 bi-weekly
Start Date: October 24, 2022
Refunds:
Town:
Hawthorne, Jr., Douglas, Group 1, Plumbing Inspector
Refund of Deductions paid to the Retirement System for supplemental pay while receiving Workers’ Compensation benefits.
Total Refund Including FWT: $1,119.87
Horwitz-Willis, Nathaniel, Group 1, Director of Public Health
One (1) Year, Ten (10) Months Creditable Service (8/28/2017-6/28/2019)
Total Refund Including FWT: $14,407.35
School:
Rudolph, King, Group 1, Custodian
Four (4) Years, One (1) Month Creditable Service (8/27/2018-10/17/2022)
Total Refund Including FWT: $18,617.88
Rollovers:
Town:
O’Neill, Sean, Group 4, Police Officer
Seven (7) Years, Five (5) Months Creditable Service (12/8/2014-5/10/2022)
Total Rollover Amount: $61,276.97
Transfers:
Town:
Thayer, Cassandra, Group 1, Animal Control Officer
Seven (7) Years, Six (6) Months Creditable Service (8/18/2014-3/4/2022)
Total Transfer to Norfolk County Retirement Board: $32,616.02
Buybacks:
School:
Hayes, Anne Marie, Group 1, Main Office Secretary, has requested to purchase two (2) years, nine (9) months of prior part-time service with the School Department. Total buyback amount is $7,933.13.
Retirements:
School:
Goonan, Katherine, Group 1, Special Education Secretary
Fifteen Years Creditable Service
Superannuation Retirement: opt b
Retirement Date: November 28, 2022
Executive Session:
Pursuant to MGL Chapter 30A, Section 21 (a)(3), the Board will enter into Executive Session to discuss ongoing litigation.
Pursuant to MGL Chapter 30A, Section 21 (a)(1), The Board will enter into Executive Session to hold an Evidentiary Hearing on the Accidental Disability Application of Matthew Sullivan.
Pursuant to MGL Chapter 30A, Section 21 (a)(1), The Board will enter into Executive Session to hold an Evidentiary Hearing on the Accidental Disability Application of Forrest Berardi.