PLYMOUTH RETIREMENT BOARD Friday, October 21, 2011 8:30 a.m.
10 Cordage Park Circle, Suite 240 Plymouth MA 02360
Section I: Regular Business:
Minutes:
Minutes dated September 23, 2011: Regular Board Meeting
Minutes dated September 23, 2011: Executive Session
Minutes dated September 28, 2011: Annual Manager Review Meeting
Warrants:
Warrant #8, dated August 31, 2011: $ 4,028,320.29 Final
Warrant #9, dated September 30, 2011: $ 1,263,463.42 Partial
Warrant #10, dated October 31, 2011: $ 174,737.54 Partial
Warrant #11, dated November 30, 2011: $ 3,545.76 Partial
Trial Balance August 31, 2011: $ 115,549,240.65
Public Comment:
Section II: General Correspondence:
PERAC Memo’s:
PERAC Memo #25/2011: Tobacco Company List
PERAC Memo #26/2011: Appropriation Date Due October 31, 2011
PERAC Memo #27/2011: New Pension Fraud Prevention Poster
Audit:
Completed Financial audit from Powers & Sullivan received for year ended December 31, 2010
Investment Correspondence:
The following investment correspondence was received by the Board:
Babson Capital Floating Rate Income Fund LP – September 30, 2011
Section III: Membership:
New Hires:
Town:
9% Stephanian, Robert, Group 1, Police Dispatcher
Perm. Full-time, $696.00/week
State Date: September 19, 2011
9% Boyle, Patrick, Group 1, Tree Climber
Perm. Full-time, $782.00/week
Start Date: October 11, 2011
School:
9% Nicholson, Clayton, Group 1, Computer Lab Aide
Perm. Full-time, $721.70 bi-weekly
Start Date: October 24, 2011
9% Riedel, Mark, Group 1, Custodian
Perm. Full-time, $1,359.20 bi-weekly
Start Date: October 24, 2011
Refunds:
Town:
Millman, Gertrude, Group 1, COA Meal Distribution Coordinator
4 years creditable service (2/22/07-3/17/11)
Total Distribution, Including FWT: $3,709.66
School:
Merrill, Charles W. – Beneficiary of Nancy Merrill, deceased 2/11/2010
Nancy Merrill , Group 1, Special Needs Aide
8 years, 1 month of creditable service (5/20/89-6/30/97)
Total Distribution, Including FWT: $4,517.09
Leaman, Maryann, Group 1, Student Activities Monitor
5 years, 1 month of creditable service (8/30/05-10/15/10)
Total Distribution, Including FWT: $4,335.81
Buy Backs & 3(8)(c) Liability:
Town:
Falmouth Retirement Board has sent a request for 3(8)(c) liability for former Group 1, Veterans Agent, Dorrance Lincoln. Mr. Lincoln was employed for the period of November 3, 2003 through January 5, 2007 and took a refund of his annuity savings fund. If this refund is re-paid, will the Board take 3(8)(c) liability for 3 years, 2 months service?
Retirements:
Town:
Cotti, Paul, Group 1,
24 years, 11 months service (10/14/86 – 10/13/11)
Superannuation retirement, Opt A
Rebell, Katherine, Group 1, Asst. Assessor
22 years, 3 months service (6/6/89 – 10/31/11)
Superannuation retirement, Opt C
School:
Burgess, Susan, Group 1, Main Office Secretary
11 years, 7 months service (8/16/99 – 10/31/08)
Superannuation retirement, Opt C
Section IV: Executive Session:
Pursuant to MGL Ch 30A, Section 21(a)(3) and Section 5, the Board shall enter into Executive Session to vote on the Accidental Disability retirement application of Scott Hendry, former Group 4 Police Officer.
Pursuant to MGL Ch 30A, Section 21(a)(3) and Section 5, the Board shall enter into Executive Session to hold an evidentiary hearing for the Accidental Disability retirement application of Stephen Viella, former Group 4 Police Department Detective.
Next Meeting: Wednesday, November 16, 2011 – Investment Manager Review
Wednesday, November 30, 2011 – Regular Board Meeting
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