February 24, 2017 - Retirement Board Meeting Agenda
PLYMOUTH RETIREMENT BOARD Friday, February 24, 2017 8:20 a.m.
10 Cordage Park Circle, Suite 240 Plymouth MA 02360
Section I: Regular Business:
Minutes:
Minutes of January 20, 2017 Executive Session
Minutes of January 20, 2017 Regular Meeting
Warrants:
Warrant #12 Dated December 31, 2016 $ 3,544,413.96 Final
Warrant # 1 Dated January 31, 2017 $ 4,860,140.63 Partial
Warrant # 2 Dated February 28, 2017 $ 583,038.65 Partial
Warrant # 3 Dated March 31, 2017 $ 3,911.19 Partial
Trial Balance as of December 31, 2016 $155,028,858.91
Public Comment:
PERAC MEMOS:
Memo #7/2017: Actuarial Data
Memo #8/2017: Continuing Membership of “Non-Full-Time Employees”
Memo #9/2017: Buyback and Make-up Repayment Worksheets
Memo #10/2017: Domestic Relations Order
Memo #11/2017: 2017 Annuity Savings Account
Memo #12/2017: 2017 Interest Rate set at 0.1%
Memo: #13/2017: Administrators are Encouraged to Attend PERAC Training
Investments:
Anthony Tranghese of FIA will present the 2016 year-end review & update the Board on the year-to-date 2017 investment performance. He will also review updates to the Investment Policy Statement.
Third Party Monitoring:
Scott & Scott Quarterly Review Reports for fourth quarter 2016
Section II: Membership:
New Hires:
Town:
9% Ciavarra, Kevin, Group 4, Police Officer
Perm. Full-time: $967.30 weekly
Start Date: February 27, 2017
9% Folloni, Erin, Group 4, Police Officer
Perm. Full-time: $967.30 weekly
Start Date: February 27, 2017
9% Gamache, Nicholas, Group 1, Motor Eq. Op.-Highway
Perm. Full-time: $735.32 weekly
Start Date: February 16, 2017
9% Garvin, Paul, Group 4, Police Officer
Perm. Full-time: $967.30 weekly
Start Date: February 27, 2017
9% Hallett, James, Group 1, Dispatcher
Perm. Full-time: $741.87 weekly
Start Date: February 7, 2017
9% Jacobs, Renee, Group 4, Police Officer
Perm. Full-time: $967.30 weekly
Start Date: February 27, 2017
9% Leahy, Shamika, Group 4, Police Officer
Perm. Full-time: $967.30 weekly
Start Date: February 27, 2017
9% Machado, Jon, Group 1, Laborer – Highway
Perm. Full-time: $735.32 weekly
Start Date: February 16, 2017
9% McCassie, Jr., William, Group 4, Police Officer
Perm. Full-time: $967.30 weekly
Start Date: February 27, 2017
9% South, Alex, Group 4, Police Officer
Perm. Full-time: $967.30 weekly
Start Date: February 27, 2017
School:
9% Alonge, Carmino, Group 1, Custodian
Perm. Full-time: $1,525.85 bi-weekly
Start Date: January 30, 2017
Refunds:
Town:
MacKinnon, Robert B. Jr., Group 4, Fire Fighter
Refund on Buy-Back of Call-Fire Service in excess of 5 Years
Creditable Service to be deducted- 4 Years
Total Non-Taxable Refund-$1,431.41
School:
Caltagirone, Lisa, Group 1, Paraeducator
One (1) Month Creditable Service (8/26/2016-10/21/2016)
Total Refund Including FWT: $251.60
Cavilla, Richard, Group 1, HVAC Technician
Six (6) Years, Four (4) Months Creditable Service (8/16/2010-1/12/2017)
Total Refund Including FWT: $39,916.49
Mason, Donna, Group 1, Paraprofessional
Seven (7) Years, Nine (9) Months Creditable Service (10/30/2006-8/28/2014)
Total Refund Including FWT: $8,673.06
Rollovers:
Town:
Kearney, Rebecca, Group 1, Administrative Secretary
Nine (9) Years, Seven (7) Months Creditable Service (8/21/2006-11/4/2016)
Total Rollover: $38,470.40
Total Non-Taxable Refund: $429.35
School:
Humphries, Karen, Group 1, Paraprofessional
Nine (9) Years. Eight (8) Months Creditable Service (4/02/2007-12/02/2016)
Total Rollover: $8,651.60
Transfers:
Town:
Silva, Jason, Group 1, Local Building Inspector
Thirteen (13) Years, Three (3) Months Creditable Service (8/4/03-11/28/16)
Transfer to Plymouth County Retirement Board: $74.366.52
School:
Cavacco-Willis, Michelle, Group 1, Paraprofessional
One (1) Year, Nine (9) Months Creditable Service (8/31/2004-6/13/2006)
Transfer to MA Teachers’ Retirement System: $1,228.21
Ryan-Lambert, Robynne M., Group 1, Paraprofessional
Seven (7) Years, Eleven (11) Months Creditable Service (10/19/1998-5/16/2008)
Transfer to MA Teachers’ Retirement System: $4751.71
Section IV: Executive Session:
Pursuant to MGL Chapter 30A, Section 21 (a)(3), the Board will enter into executive session to hear from its Attorney regarding ongoing litigation.