July 21, 2017 - Retirement Board Meeting Agenda
Section I: Regular Business:
Minutes:
Minutes of June 23, 2017 Regular Meeting
Minutes of June 23, 2017 Executive Session
Warrants:
Warrant #5 Dated May 31, 2017: $ 2,431,721.41 Final
Warrant #6 Dated June 30, 2017 $ 1,728,224.86 Partial
Warrant #7 Dated July 31, 2017 $ 2,925,903.12 Partial
Warrant #8 Dated August 31, 2017 $ 4,178.03 Partial
Trial Balance as of May 31, 2017: $ 154,738,599.65
Public Comment:
New/Old Business:
Conferences:
2017 PERAC Emerging Issues Forum, Thursday, September 14, 2017, 9 AM – 3 PM, College of the Holy Cross
January 1, 2017 Actuarial Valuation:
Jim Lamenzo of PERAC will be present to discuss funding schedule reports at 7.25% and 7.5% for the Board to review and vote.
PERAC MEMOS:
Memo #20/2017: Application of New Public Records Law on Local, County and Regional Retirement Boards
Memo #21/2017: Mandatory Retirement Board Member Training – 3rd Quarter 2017
Investments:
Anthony Tranghese of FIA will review investment performance with the Board, and discuss dollar cost averaging for the remainder of the appropriation.
RFP for High Yield Fund:
Register of respondents to the High Yield RFP prepared by FIA.
Financial Statement Draft:
Draft copy of Powers & Sullivan’s Financial Statements for year ended December 31, 2016
Templeton Global Equity Group – Staff Update:
Correspondence from Sandi Schoren-Testa regarding the retirement of Cindy Sweeting, Director of Portfolio Management, Portfolio Manager & Research Analyst, effective December 31 2017.
Section II: Membership:
New Hires:
Town:
9% Bishop, Madison, Group 1, Youth Services Librarian
Perm. Full-time: $855.17 weekly
Start Date: July 17, 2017
9% Costa, Stephen, Group 1, Heavy Motor Equipment Operator-Solid Waste
Perm. Full-time: $795.34 weekly
Start Date: June 27, 2017
School:
9% Bock, Bryan, Group 1, Assistant Director of Accountability and Measurement
Perm. Full-time: $3,365.39 bi-weekly
Start Date: July 3, 2017
9% Davin, Jill, Group 1, Building Use Coordinator
Perm. Full-time: $1,115.89 bi-weekly
Start Date: June 24, 2017
9% Veiga, Michael, Group 1, Groundman Floater
Perm. Full-time: $1,560.00 bi-weekly
Start Date: June 26, 2017
Transfers:
Town:
Quinn, Jr., Robert G., Group 1, Maintenance Worker
Three (3) Years, Two (2) Months Creditable Service (2/10/2014-5/3/2017)
Transfer to Barnstable County Retirement Board: $12,224.03
Retirements:
Town:
Vaivarins, Linda, Group 1, Meter Enforcement Officer
Ten (10) years service
Superannuation retirement, opt b
Retirement date: August 3, 2017
Santiago, Jose, A., Group 4, Fire Lieutenant
Thirty-Two (32) years, Four (4) months creditable service
Superannuation retirement, opt c
Retirement Date: July 26, 2017
School:
Banville, Robert, Group 1, Custodian Team Leader
17 Years, 9 Months of Creditable Service
Superannuation Retirement opt b
Retirement Date: June 22, 2017
Section 91A Termination Notices:
The following retirees have not completed their 2016 Annual Statement of Earned Income to PERAC:
Healy, John
Macomber, Matthew
Malonson, Justin
Viella, Darlene
PERAC has instructed termination of their monthly allowance, beginning with the August 31, 2017 payment. Board to approve termination.