August 30, 2019 Retirement Board Meeting

Section I: Regular Business:

Minutes:

Minutes of July 26, 2019                                                        Regular Meeting

Minutes of July 26, 2019                                                        Executive Session

Warrants: 

Warrant #6 Dated June 30, 2019                                            $       2,845,434.29 Final

Warrant #7 Dated July 31, 2019                                             $       8,008,887.30 Partial

Warrant #8 Dated August 31, 2019                                        $       2,548,833.10 Partial

Warrant #9 Dated September 30, 2019                                  $       2,366,000.00 Partial 

Trial Balance as of June 30, 2019:                 $174,949,606.31                                

Public Comment:

New/Old Business:

PERAC MEMOS:

Memo #21/2019: COLA Increase for Supplemental Dependent Allowance Paid to Accidental Disability Retirees and Accidental Death Survivors

MACRS Fall 2019 Conference:

MACRS Fall 2019 Conference will be held in Springfield MA from 9/29/19 - 10/2/19. Will the Board approve attendance for those that are able to attend.

Actuarial Valuation:

Board to review and vote on January 1, 2019 Actuarial Valuation, prepared by John Boorack of PERAC.

Investments:

2nd Qtr. 2019 Performance Review - Plymouth Fund and OPEB Trust

Section II: Membership:

Post Retirement Earnings:

John Rogers, former Police Department Captain, will be present to discuss post retirement earnings with the Board. 

New Hires:

Town:

9%       Chisholm, Howard, Group 1, Motor Equipment Operator-Highway

            Perm. Full-time: $787.98 weekly

            Start Date: August 26, 2019

9%       Larsen, Adam, Group 4, Police Officer

Perm. Full-time: $1,518.38 weekly

Start Date: August 12, 2019

9%       Stockel, Dakotah, Group 1, Administrative Secretary

            Perm. Full-time: $782.63 weekly

            Start Date: August 19, 2019

School:

9%       Costa, Maritonia, Group 1, Family Engagement Liaison

            Perm. Full-time: $1,806.00 bi-weekly

            Start Date: August 27, 2019

9%       Harty, Colin, Group 1, In-School Suspension Supervisor

            Perm. Full-time: $2,110.91 bi-weekly

            Start Date: August 28, 2019

9%       Pizzi, Maureen, Group 1, Paraeducator

            Perm. Full-time: $847.35 bi-weekly

            Start Date: August 28, 2019

School:

Hoffer, Christine, Group 1, Paraprofessional, has requested to purchase prior part-time service from September 15, 2008 through August 26, 2014 with the Town of Plymouth School Department.  Total Buyback Amount: $6,432.81

3(8)(c ) Liability:

Julie Schultz, former Paraprofessional for the Plymouth Public Schools is currently a member of the MA Teachers’ Retirement System.  Ms. Schultz worked as a part-time Paraprofessional for the period of August 30, 2016 through June 30, 2017.  Ms. Schultz worked part-time and was not allowed membership into the Plymouth Retirement System.  If proper repayment of deductions and interest is made, will the Board take five (5) months liability for Ms. Schultz?

Retirements:

Town:

McKenna, Joseph E., Group 4, Firefighter

Thirty-Two (32) Years, Three (3) Months Creditable Service

Superannuation Retirement: opt c

Retirement Date: September 2, 2019

Section III:

Executive Session:

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