April 27, 2018 Retirement Board Meeting Agenda

Section I: Regular Business:

Minutes:

Minutes of March 23, 2018                            Executive Session

Minutes of March 23, 2018                            Regular Meeting                                 

Warrants: 

Warrant #2/2018, Dated February 28, 2018                           $4,120,173.29 Final

Warrant #3/2018, Dated March 31, 2018                               $2,322,547.09 Partial

Warrant #4/2018, Dated April 30, 2018                                 $    94,602.37 Partial

Warrant #5/2018, Dated May 31, 2018                                  $       3,997.34 Partial

Trial Balance:                                                  $175,135,400.03                    

Public Comment:

New/Old Business:

PERAC MEMOS:

Memo #15/2018:         Tobacco Company List

Memo #16/2018:         Mandatory Retirement Board Member Training – 2nd Quarter 2018

Memo #17/2018:         Implementation of the Vernava decision

Investments:

Anthony Tranghese of FIA will present & discuss the following:

Current investment portfolio update
FY18 Appropriation distribution

Section II: Membership:

New Hires:

Town:

9%       Crowell, Joseph, Group 1, Motor Equipment Operator-Highway

            Perm. Full-time: $757.38

            Start Date: April 17, 2018

9%       Sullivan, David, Group 1, Dispatcher

            Perm. Full-time: $783.23 weekly

            Start Date: March 30, 2018

School:

9%       Moreira, Elizabeth, Group 1, Paraeducator

            Perm. Full-time: $979.49 bi-weekly

            Start Date: March 19, 2018

Buybacks:

School:

Soares, Diane, Group 1, Food Services Kitchen Manager has requested to purchase prior service from October 15, 1979 through June 17, 1987 with the Town of Plymouth School Department.  Total buy Back Amount: $4,413.33

Refunds:

Town:

Castagna, Michael, Former Group 1, Outreach Coordinator

Ten (10) Months Creditable Service (1/6/2003–11/14/2003)

Total Refund Including FWT: $1,211.34

School:

Hoey, Sean, Group 1, Behavior Specialist

Five (5) Years, Five (5) Months Creditable Service (1/3/2012-6/19/2017)

Total Refund Including FWT: $21,384.87

Rollovers:

School:

Campbell, Linda, Former Group 1, Security Specialist

Six (6) Years, One (1) Month Creditable Service (8/30/2005-10/21/2011)

Total Rollover Amount: $5,616.39

PHA:

Reindeau, Geraldine, Group 1, Director

Rollover of overpaid interest on prior service purchase

Total Rollover Amount: $3,118.21

Transfers:

School:

Kathleen Nielsen is a former Physical Therapist for the School Department.  Her membership was transferred to the MA Teachers’ Retirement Board on October 31, 2004.  Four (4) Years and Eleven (11) Months were transferred for Ms. Campbell, however the total transferred should have been Five (5) Years and Eight (8) Months.  Will the Board accept the additional liability of Nine (9) Months for Ms. Campbell?

Retirements:

School:

Caldera, Ruth, Group 1, Secretary

20 years, 7 months service

Superannuation retirement, opt c

Retirement date: March 30, 2018

Lemmo, Donna, Group 1, Library Aide

28 years, 10 months service

Superannuation retirement, opt c

Retirement date: April 27, 2018

Spellman, Irene, Group 1, Security Receptionist

10 Years, 2 Months service

Superannuation retirement, opt a

Retirement Date: April 4, 2018

Executive Session:

Pursuant to MGL Chapter 30A, Section 21 (a)(3), the Board will enter into executive session to discuss ongoing litigation.

Next Meeting