PLYMOUTH RETIREMENT BOARD Friday, December 23, 2011 8:30 a.m.
10 Cordage Park Circle, Suite 240 Plymouth MA 02360
Section I: Regular Business:
Minutes:
Minutes dated November 16, 2011 Annual Investment Manager Interviews
Minutes dated November 30, 2011 Regular Board Meeting
Minutes dated November 30, 2011 Executive Session
Warrants:
Warrant #10, dated October 31, 2011 $2,609,751.74 Final
Warrant #11, dated November 30, 2011 $1,359,029.18 Partial
Warrant #12, dated December 31, 2011 $ 40,469.70 Partial
Warrant #1, dated January 31, 2012 $ 3,545.76 Partial
Trial Balance $104,891,098.80 October 2011
Public Comment:
Section II: General Correspondence:
General discussion regarding Retirement W/C policy.
Letter received from IRS explaining delay in their response.
PERAC Memo's:
PERAC Memo #32/2011: Age 70 ½ Distribution
PERAC Memo #33/2011: Regular Compensation
PERAC Memo #34/2011: Placement Agent Policy
PERAC Memo #35/2011: Chapter 176 of the Acts of 2011: An Act Providing for Pension Reform & Benefit Modernization (Governance Provisions)
Discussion and determination of extensions of existing agreements for legal, and other vendors as to an extension of existing agreements in accordance with Chapter 175, acts of 2011
PERAC Memo #36/2011: Chapter 176 of the Acts of 2011: An Act Providing for Pension Reform & Benefit Modernization (Non-Governance Provision)
PERAC Memo #37/2011: Submitting Actuarial Data via SFED
PERAC Memo #38/2011: Mandatory Retirement Board Member Training
PERAC Memo #39/2011: Chapter 176/Contracts
PERAC Memo #40/2011: Same Sex Marriage Option Change (Sec. 55 of Ch. 176 of the Acts of 2011)
PERAC Memo #41/2011: Mandatory Ethics Training
Notice Sent 12/20/11
PERAC Memo #42/2011: 2011 Disability Retiree Data
Investments:
Legal
Amendment of Engagement Contract with Michael Sacco, board attorney, that will provide legal services from January 1, 2011 to 12/31/2016 for Board vote.
Pension Technology Group (PTG )
Amendment to current contract with Pension Technology Group for support and hosting of our data from December 31, 2011 to December 31, 2016.
Monitoring Service
Labaton Sucharow contract to monitor investment portfolios in connection with potential claims.
Berman DeValerio contract amendment to agreement to reflect 5 year duration.
Correspondence:
Legislation Implementation & General Information:
Chapter 176, Acts of 2011: Sect. #4 and 42 Procurement Process
Sect. #55 Changes to option availability Change & Notice
Sect. #37 &54: Require employers of members to provide board with all collective bargaining agreements for consistency with Chapt. 32.
Local Options: Sect 34: Increase of stipend
Sect 29: Increase of Section 12 benefit
Sect 45: Representative of an employee organization who is
absent without pay, to make contributions and receive
service.
Sect 48: Minimum retirement allowance of retirees with 25 yrs of service.
Section III: Membership:
Refunds:
School:
Lapierre, Lucie J., Group 1, Cafeteria Worker
Three (3) Yrs. Ten (10) Mos. Creditable Service (10/9/2001-8/4/2011)
Total Distribution, Including FWT: $2,670.65
Rombaldi, Maureen A., Group 1, Special Needs Aide
Two (2) Yrs. Ten (10) Mos. Creditable Service (9/1/1998 - 8/31/2001)
Total Distribution, Including FWT: $1,455.07
Eddy, Elizabeth A., Group 1, Special Needs Aide
One (1) Yr., Nine (9) Months Creditable Service (11/12/2002 - 8/31/2004)
Total Distribution, Including FWT: $862.32
Rollovers:
Town:
Costa, Robert, Group 4, Patrolman
Three(3) Yrs. Ten(10) Mos. Creditable Service (10/20/08-9/26/11)
Rollover Amount: $12,136.42
Mr. Costa will receive a refund of Non-Taxable Deductions in addition to his Rollover
Total Distribution of Non-Tax Monies: $5,720.24 (No FWT)
Total Rollover/Refund: $17,856.66
Retirements:
Town:
Lawrence, Joseph B., Group 1, DPW Maintenance Div. Custodian
23 years, 5 months Service (2/22/93 – 12/1/11)
Superannuation retirement, opt c
Retirement date: December 1, 2011
School:
Sealy, Charlotte, F., Group 1, Paraprofesional
22 years 2 months service (8/20/89 – 12/22/11)
Superannuation Retirement, option: B
Retirement date: December 22, 2011
Buy Backs & 3(8)(c) Liability:
School:
Barnstable County Retirement Association has sent a request for 3(8)(c) liability for former Group 1, Special Needs Aide, Tracey A. Sullivan. Ms. Sullivan was employed for the period of October 21, 1997 through December 17, 2010, and took a refund of her annuity savings fund. If this refund is re-paid, will the Board take 3(8)(c) liability for thirteen (13) years, one (1) months service?
Retirement Staff Benefit Document
Page 9: Recommendation to remove classification codes from benefit package document
Page 10: Add maximum longevity payment for Assistant Director/Administrative Assistant positions to 30 years.
Section IV: Executive Session:
Next Meeting:
| < Prev | Next > |
|---|
