December 2018 Retirement Board Meeting

Section I: Regular Business:

Minutes:

Minutes of November 30, 2018                                              Regular Meeting                    

Warrants: 

Warrant #10 Dated October 31, 2018                         $        4,359,828.81 Final

Warrant #11 Dated November 30, 2018                     $        1,807,786.08 Partial

Warrant #12 Dated December 31, 2018                     $             78,155.91 Partial

Warrant #1 Dated January 31, 2019                           $               3,997.34 Partial           

Trial Balance as of October 31, 2018                         $ 182,661,172.90       

Public Comment:

New/Old Business:

NCPERS Conference:

NCPERS 2019 Legislative Conference, January 27 – 29, 2019

PERAC MEMOS:

Memo #33/2018: CRAB’s Order of Partial Stay Regarding Regular Compensation Status of Payments Made in Lieu of Unused Leave Time

Memo #34/2018: Tobacco Company List

COLA Vote:

There is a 30-day notice requirement for the posting of the COLA Vote. If the Board wants to have the COLA Vote meeting in January 2019, the meeting date must be January 25, 2019.

Section II: Membership:

New Hires:

Town:

9%       Bates, Joseph, Group 1, Inspector/Lister

            Perm. Full-time: $924.74 weekly

            Start Date: December 3, 2018

School:

9%       Costello, John, Group 1, Custodian

            Perm. Full-time: $1560.15 bi-weekly

            Start Date: December 3, 2018

Refunds:

Town:

Ferguson, Joel, Group 4, Police Officer

Four (4) Years, One (1) Month Creditable Service (9/15/2014-11/12/2014)

Total Taxable Refund including FWT: $25,970.56

Total Non-Taxable Refund: $959.50

Heylin, Patricia, Group 1, Programs Coordinator/Fiscal Manager

Five (5) Years, Four (4) Months Creditable Service (7/1/2013-11/2/2018)

Total Refund Including FWT: $17,809.11

School:

Callahan, Tracy, Group 1, Paraeducator

Eight (8) Years, Seven (7) Months Creditable Service (8/5/2006-6/22/2018)

Total Refund Including FWT: $17,008.31

Zeoli, Kristen E., Group 1, Registered Behavior Specialist

Five (5) Years, Five (5) Months Creditable Service (8/26/2014-6/22/2018)

Total Refund Including FWT: $17,048.79

School:

3(8)(c ) Liability:

Marlene (Elias) Walsh, former Administrative Assistant with the Plymouth Housing Authority, is currently a member of the Berkshire County Retirement System.  Ms. Walsh worked from April 2, 1984 – November 23, 1990, and took a refund of her deductions on November 30, 1990, in the amount of $9,455.98.  Ms. Walsh is requesting to purchase her prior refund.  If proper deductions and interest are re-deposited, will the Board take 3(8)(c ) Liability for six (6) years and eight (8) months creditable service?

CORRECTION- James C. Tobin, former Energy Conservation Coordinator with the Plymouth Public Schools is currently a member of the Lowell Retirement System.  Mr. Tobin worked from August 22, 2005-April 28, 2010, and took a refund of his deductions on February 17, 2012, in the amount of $25,699.74.  If proper deductions and interest are re-deposited, will the Board take 3(8)(c ) Liability for four (4) years and one (1) month creditable service?  Total creditable service should have been four (4) years and eight (8) months.

Retirements:

Town:

Kierstead, Barry L., Group 4, Fire Fighter

Thirty-Two (32) Years of Creditable Service

Superannuation Retirement: option c

Retirement Date: December 22, 2018

Rogers, John Jr., Group 4, Police Captain

Thirty-three (33) Years, One (1) Month of Creditable Service

Superannuation Retirement: option c

Retirement Date: December 28, 2018

Section III:

Investment Manager Presentations 2018:

Portfolio Review-Anthony Tranghese

8:30 a.m.- Boston Partners-Large Cap Value

9:00 a.m.-Boston Trust-Small Cap Core

9:30 a.m.- Acadian- International Small Cap

10:00 a.m.- Rhumbline- S&P 500 Index

Executive Session:

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