August 25, 2017 - Retirement Board Meeting Agenda

Section I: Regular Business:

Minutes:

Minutes of July 21, 2017                                            Regular Meeting

Warrants: 

Warrant #6 Dated June 30, 2017                                $ 2,569,735.42 Final

Warrant #7 Dated July 31, 2017                                 $ 4,501,444.36 Partial

Warrant #8 Dated August 31, 2017                           $10,174,538.33 Partial

Warrant #9 Dated September 30, 2017                      $         3,911.19 Partial

Trial Balance as of June 30, 2017:                              $158,275,484.69 Final

Public Comment:

New/Old Business:

PERAC MEMOS:

Memo #22/2017: PROSPER and the Legal Review of Disabilities

Memo #23/2017: MTRS. C. 32, section 3(8)(C) Reimbursements

Memo #24/2017: Cost of Living Increase for Supplemental Dependent Allowance Paid to Accidental Disability Retirees and Accidental Death Survivors

Memo #25/2017: The Repeal of G.L. c. 32, Section 90G ¾

Memo #26/2017: Access to PROSPER

Memo #27/2017: Reinstatement to Service under G.L. C. 32sec. 105

Portfolio Monitoring Services:

Scott & Scott has sent their 2nd Qtr. 2017 Review

Board to review letter from Berman Tabacco (formerly Berman DeValerio), regarding a change in firm, has change its name to Berman Tabacco. 

FY18 Appropriation:

Board to discuss a change in the final distribution of the FY18 appropriation funds scheduled for September 1, 2017 with Anthony Tranghese of FIA.  An updated cash flow worksheet has been prepared for review/vote.

RFP for High Yield Fund:

Register of respondents to the High Yield RFP prepared by FIA. 

Investment Performance:

Investment performance review for June 20, 2017.

Financial Statement Draft:

Draft copy of Powers & Sullivan’s Financial Statements for year ended December 31, 2016

Section II: Membership:

New Hires:

Town:

9%       Horwitz-Willis, Nathaniel, Group 1, Director of Public Health

            Perm. Full-time: $1,480.90 weekly

            Start Date: August 28, 2017

9%       Indeglia, Shane, Group 1, Library Associate

Perm. Full-time: $726.72 weekly

Start Date: July 31, 2017

9%       Kerwin, Rachel, Group 1, Administrative Assistant-Maintenance

            Perm. Full-time: $802.38 weekly

            Start Date: August 21, 2017

9%       Taylor, Lynn, Group 1, Library Technician

            Perm. Full-time: $582.66 weekly

            Start Date: August 7, 2017

9%       Warnock, Liam, Group 1, Maintenance Worker – Highway

            Perm. Full-time: $787.35 weekly

            Start Date: August 14, 2017

School:

9%       D’Agostino, Christopher, Group 1, Custodian

            Perm. Full-time: $1,560.15 bi-weekly

            Start Date: August 21, 2017

9%       DeMille, William, Group 1, Custodian

            Perm. Full-time: $1,560.51 bi-weekly

            Start Date: August 21, 2017

9%       Trask, Jeffrey, Group 1, Custodian

            Perm. Full-time: $1,560.51 bi-weekly

            Start Date: August 21, 2017

Buybacks:

Town:

Lydon, Patrick, Group 4, Firefighter, as requested a buyback of one (1) year prior Military Service

Total Buy Back Amount: $4,537.78

School:

Davin, Jill, Group 1, Building Use Coordinator, has requested to purchase prior service from July 1, 2012 through June 30, 2017 with the Plymouth School Department.  Due to a payroll error no deductions were taken for this time period.

Total Buy Back Amount: $11,089.63

McKenna, Nicole, Group 1, Paraeducator, has requested to purchase

prior service from January 14, 2013 through April 13, 2017 with the Plymouth School Department.

Total Buy Back Amount: $4,415.11

Refunds:

Town:

Gomes, Antonio, Group 4, Police

Refund of overpayment of previous Police Intermittent Buyback Service

Total Refund Including FWT: $1,352.51

Transfers:

PHA:

Carpenter, Tracey, Group 1, Program Administrator

Five (5) Years, Six (6) Months Creditable Service (1/1/2002-6/30/2007)

Total Transfer to MA Teachers’ Retirement System: $12,975.34

Retirements:

Town:

Jesse, Johnathan, Group 4, Patrolman

Thirty-two (32) Years Creditable Service

Superannuation option: c

Retirement Date: August 1, 2017

Furtado, Kevin J., Group 4, Patrolman

Thirty (30) Years, Three (3) Months Creditable Service

Superannuation option: b

Retirement date: 8/9/2017

Healey, Patrick, T., Group 1, Heavy Equipment Operator

Twelve (12), Years, Six (6) Months Creditable Service

Superannuation Option c

Retirement Date: 8/25/2017

Executive Session

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 Retirement Application of Bernice Leahy.

Pursuant to MGL Chapter 30A, Section 21 (a)(3), the Board will enter into executive session to hear from its Attorney regarding litigation strategy for the most recent Pomeroy complaint and preliminary injunction issue.