PLYMOUTH RETIREMENT BOARD Monday, December 23, 2010 8:35 a.m. - Agenda
10 Cordage Park Circle Suite #240
Plymouth, MA 02360
Section I: Regular Business – Regular Meeting
Minutes:
Minutes dated November 15, 2010: Regular Board Meeting
Warrants:
Warrant #10, dated October 31, 2010: $ 1,222,396.76 (Final w/ Trial Balance)
Warrant #11, dated November 30, 2010: $ 1,677,784.12 (Partial w/o investments)
Warrant #12, dated December 31, 2010: $ 43,981.04 (Partial)
Warrant #1, dated January 31, 2011: $ 3,545.76 (Partial)
Public Comment:
Section II: Solicitation & Correspondence:
PERAC Memo's:
PERAC Memo #39/2010: Age 70 ½ Distribution
Investment Correspondence:
The Board received the following investment correspondence:
State Street Global Advisors Public Fund Bulletin: 3rd Quarter 2010
State Street Global Advisors Performance Analysis: Novemebr 30, 2010
Wellington Performance as of 12/3/2010
Wellington Performance as of 12/6/2010
Discussion re: Investment Return Performance Net of Fees vs Gross of Fees
PRIT Fund:
Paul Todisco has notified the Board that the PRIT Fund has exposure to two of the three hedge fund companies raided by the FBI – Diamonback Capital for $17.2 million (of which $4.8 million is in liquidation status) & Level Global for $48.4 million.
12/14 Mr. Todisco called to inform board that as of this day no further information was available.
Legal:
Board to review and discuss new Policy & Procedures manual created by Atty. Sacco.
Request board to adopt a policy for required documentation needed for membership. i.e. birth certificate, copy of pre-employment physical, copy of license, a completed application, copy of any Qualified Domestic Order, or certification of none applicable.
Appropriation Schedule
Retirement Board to adopt appropriation schedule to be implemented FY 2012.
Section III: Membership:
New Hires:
Town:
9% Ferazzi, Michael A., Group 4, Police Sergeant (ADR- Returned to Duty)
Perm. Full-time, $1,491.75 weekly
Start Date: 11/22/2010
9% Yule, Jonathan F., Group 4, Police Officer
Perm. Full-time, $833.65 weekly
Start Date: 11/15/2010
9% Elliott, Melissa A., Group 4, Student Officer
Perm. Full-time, $833.65 weekly
Start Date: 11/15/2010
9% Kelley, Thomas M., Group 4, Police Officer
Perm. Full-time, $833.65
Start Date: 11/15/2010
9% McNamara, Patrick M., Group 4, Police Officer
Perm. Full-time, $833.65
Start Date: 11/15/2010
9% Cavanaugh, Marlene K., Group 1, Senior Clerk/Police Dept.
Perm. Full-time, $607.25 weekly
Start Date: 11/8/2010
Refunds:
Town:
McKenna, Adam N., Group 1, Town, Transfer Station Operator
10 months of creditable service (8/04/08-6/30/09)
Total distribution, including FWT: $2,820.38
Whitecotton, Corey, Group 1, Transfer Station Operator
2 years and 4 months creditable service (6/23/08-10/25/10)
Total Distribution, including FWT:$7,014.80
Transfers:
School:
Edgar, Cathleen, L. Group 1, School Dept.-ESL Aide 3 months creditable service (12/01/2001-3/01/2002)
Transferring to: Plymouth County Retirement Board
Schipellite, Ellen, Group 1, School Dept. Special Needs Aide
4 years and 1 month of creditable service (9/26/05-11/04/09)
Transferring to: Plymouth County Retirement Board
Hile, Scott R., Group 4, Police Officer
5 years and 3 months of creditable service (10/28/09-11/11/10)
Transferring to Plymouth County Retirement Board
Rollovers:
Town:
Lynch, Beth, A., Group 1, Library Page
3 years and 9 months service (12/18/06-10/05/10)
Rollover Amount: $1,715.73
Retirements:
Town:
Bridges, Edward F, Group 1, Crossing Guard
10 years service (11/20/00 – 11/24/10)
Superannuation retirement, opt b
Retirement date: November 24, 2010
Ellis, William F, Group 1, DPW Parks & Forestry
15 years, 6 months service (5/22/95 – 12/31/10)
Superannuation retirement, opt b
Retirement date: December 31, 2010
School:
Hurley, Susan M, Group 1, Cafeteria Worker
18 years, 8 months service (3/1/92 – 11/17/10)
Superannuation retirement, opt b
Retirement date: November 17, 2010
Woods, Dorothy B, Group 1, Secretary
17 years, 2 months service (11/1/93 – 1/7/11)
Superannuation retirement, opt b
Retirement date: January 7, 2011
Section IV: New Business:
Board to vote the date/month of the increase of survivor allowances to become effective, as stated under Sections 27 & 28 of Chapter 131 of the Acts of 2010, from $6,000 to $9,000. Board voted to adopt this increase at their meeting of October 22, 2010. (Board received a copy of a comparison chart of other cities/towns regarding this increase).
| < Prev | Next > |
|---|
