March 18, 2016 - Retirement Board Meeting Agenda

Section I: Regular Business:

Minutes:

Minutes of February 26, 2016                                    Regular Meeting                                            

Warrants:

Warrant #  1, Dated January 31, 2016:                       $   1,567,972.45 Partial

Warrant #  2, Dated February 29, 2016                      $   3,089,635.27 Partial

Warrant #  3, Dated March 31, 2016                          $      119,779.79 Partial

Warrant #  4, Dated April 30, 2016                            $          3,873.13 Partial                                  

Public Comment:

Section II: General Correspondence:

2015 Annual Statement:

Board to review and sign 2015 Annual Statement.

PERAC Memos:

Memo #10/2016:         Retirement Guide Mailing

Memo #11/2016:         Tobacco Company List

Investments:

Investment Performance:

Anthony Tranghese of FIA will be present to review performance and discuss the allocation for the July 2016 appropriation.

Audit:

Powers & Sullivan, independent auditors, sent draft copies of the Audit of Specific Elements, accounts and Items of Financial Statements and Financial Statements for year ended December 31, 2014.

Request for Proposals:

Board to review responses to the RFP for Investment Consulting services.

Section III: Membership:

Acts of 2009-Chapter 21:

Earnings Under $5,000.00 per Calendar Year – Does the Board approve issuing a refund of deductions plus interest to those members who made less than $5,000.00 per calendar year after July 1, 2009.

New Hires:

Town:

9%       Partridge, Ronald, Group 1, Airport Operations

            Perm. Full-time: $760.72 weekly

            Start Date: March 7, 2016

9%       Ripley, George, Group 1, Youth Services Librarian

            Perm. Full-time: $808.49 weekly

            Start Date: February 29, 2016

Refunds:

School:

O’Reilly, Jill, Group 1, Spec. Ed. Clerical Aide

10 Years, 3 Months Creditable Service (1/6/00-5/17/10)

Total Refund Including FWT: $9,132.85

Souza, Karen, Group 1, Cafeteria Worker

8 Years, 5 Months Creditable Service (8/30/07-2/12/16)

Total Refund Including FWT: $6,742.80

PHA:

Sotirkys, Mary, Group 1, Administrative Assistant

6 Months Creditable Service (7/27/15-2/12/16)

Total Refund Including FWT: $1,587.60

Buybacks:

Town:

Brumble, Joshua, Group 4, Fire Fighter has requested a buyback of four (4) years of prior Military Service.

Total Buyback Amount: $20,547.20

Keane, Karen, Group 1, Local Inspector, Health Department has requested a buyback of three (3) years, one (1) month of prior refund with the Town of Plymouth. 

Total Buyback Amount: $3,162.32

Tavekelian, Troy, Group 4, Police Department, has requested a buyback of four (4) years of prior Military Service.

Total Buyback Amount: $15,175.68

School:

Egan, Christine, Group 1, Paraprofessional, has requested a buyback of one (1) year, six (6) months of prior part-time service with the Plymouth School Department.

Total Buyback Amount: $1,995.57 including accrued interest.

Nee, Kathleen, Group 1, Secretary, has requested a buyback of four (4) years of Prior Military Service.

Total Buyback Amount: $3,805.40

O’Connell, Caitlin, Group 1, Occupational Therapist Assistant, is requesting a buyback of six (6) months of prior part-time service for the Plymouth School Department.

Total Buyback Amount: $1,354.57

Retirements:

Section 9 Application:

Lois Hanson, widow of retired Group 4, Police Officer John Hanson, Jr., has applied for Section 9 benefits. Mr. Hanson retired under accidental disability, “Heart Law”, on March 21, 1981, and passed away on February 29, 2016 of the same injury.

Section V: 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.

Next Meeting: