March 27, 2015 - Retirement Board Regular Meeting Agenda

Section I: Regular Business:

Minutes:

Minutes dated February 27, 2015 Regular Board Meeting
Minutes dated February 27, 2015 Executive Session

Warrants:

Warrant #12, Dated December 31, 2014: $ 4,023,166.58 Final
Warrant #1, Dated January 31, 2015: $18,085,121.15 Partial
Warrant # 2, Dated February 28, 2015: $ 1,653,970.14 Partial
Warrant # 3, Dated March 31, 2015: $ 183,722.26 Partial
Warrant # 4, Dated April 30, 2015: $ 3,778.66 Partial

Public Comment:

Section II: General Correspondence:

PERAC:

PERAC Memo's

Memo #8/2015: Remarriage Penalty

Investments:

Anthony Tranghese from FIA to review the Renewed Investment Contracts

Section III: Membership:

New Hires:

Town:

9% Tavekelian, Colleen, Group 1, Administrative Secretary
Perm. Full-time, $698.54, weekly
Start Date: March 4, 2015

9% McGonagle, Sean, Group 4, Police Officer
Perm. Full-time, $916.04, weekly
Start Date: March 23, 2015

School:

9% Boncek, Jesse, Group 1, Custodian
Perm. Full-time, $1448.81 bi-weekly
Start Date: February 23, 2015

9% Bastoni, John, Group 1, Custodian
Perm. Full-time, $1,448.81, bi-weekly
Start Date: March 23, 2015

Refunds:

Town:

Meaney, Theresa, Former Group 1, Parks Maintenance Worker
5 Years, 11 Months Creditable Service
Refund of Retro Deductions taken from Contract Settlement 12/2014
Total Refund: $22.70 (No FWT under $200.00)

Yule, Jonathan, Former Group 4, Police Officer
1 Year, 11 Months Creditable Service
Refund of Retro Deductions taken from Contract Settlement 12/2014
Total Refund: $0.51 cents (No FWT)

West, Andrew, Former Group 1, Meter Reader
13 Years, 7 Months Creditable Service
Refund of Retro Deductions taken from Contract Settlement 12/2014
Total Refund: $39.01 (No FWT)

Young, Steven, Former Group 1, Heavy Equipment Operator
8 Years, 3 Months Creditable Service
Refund of Retro Deductions taken from Contract Settlement 12/2014
Total Refund: $17.25 (No FWT)

Sechoka, Matthew, Former Group 4, Police Officer
1 Year, 2 Months, Creditable Service
Refund of Retro Deductions taken from Contract Settlement 12/2014
Total Refund Including FWT: $254.31

McGinnis, Conor, Former Group 1, DPW/Parks Laborer
5 Years, 9 Months, Creditable Service
Refund of Retro Deductions taken from Contract Settlement 12/2014
Total Refund: $19.75 (No FWT)

Daley, David, Former Group 1, Police Dispatcher
7 Years, 2 Months Creditable Service
Refund of Retro Deductions taken from Contract Settlement 12/2014
Total Refund: $34.88 (No FWT)

Maloney, Gregory T., Former Group 4, Policeman
Died in the line of duty, 4/1/2014
Refund of Retro Deductions taken from Contract Settlement 12/2014
Refund to be paid to Beneficiary, Susan Maloney
Total Refund Including FWT: $369.18

School:

Wood, Stephen, Group 1, Custodian
5 Months Creditable Service (8/4/14-1/16/15)
Total Refund Including FWT: $1,607.77

Transfers:

Town:

Sullivan, Elizabeth, Group 1, Special Asst to Town Manager
12 Years, 1 Month Creditable Service (2/23/04-12/19/14)
Total Transfer to Barnstable County Retirement Association: $63,147.04

Manion, Tracy, Former Group 4, Police Officer
17 Years, 1 Month, Creditable Service (5/5/97-11/1/14)
Transfer of Retro Deductions taken from contract settlement, 12/18/14
Total Transfer to Milton Retirement Board: $664.19

School:

Reed, Darlene J., Group 1, Computer Lab Aide
6 Years, 11 Months Creditable Service (8/30/06-8/14/13)
Transfer to MTRB: $10,624.84

Durkee, Matthew, Group 1, Custodian
7 Years, 2 Months Creditable Service (10/1/07-12/12/14)
Transfer to Plymouth County Retirement Association: $24,300.86

Rollovers:

School:

Lapsley, Shelley, Group 1, Cafeteria Worker
7 Years, 6 Months Creditable Service (9/25/06-4/18/14)
Total Rollover Amount: $5,627.62

3(8)(c) Liability:

Amended: Gibbons, Francis, A. (Glass) former School Dept. Title One Tutor. Ms. Gibbons is
currently a member of Massachusetts' Teachers Retirement System and requested to buy back five (5) years, eleven (11) months Tutor/Assistant Teacher service. Ms. Gibbons was employed as a Title One Tutor from November 1978 thru June 1984 and Chapter One Assistant Teacher from September 1984 thru June 1987. The Board voted at their February 27, 2015, meeting to accept 3(8)( c) Liability in the amount of Five (5) Years, Eleven (11) Months if the proper repayment of deductions is made. It has been determined that Ms. Gibbons worked an additional nine (9) months from 9/15/86-6/30/87, and would like to purchase this time as well. Will the Board approve this additional nine months of service if proper repayment of deductions is made? The new 3(8)( c) Liability total will be Six Years (6), Eight (8) Months of creditable service if approved.

Retirements:

Town:

Brant, Clifton III, Group 4, Police Officer
32 years, 6 months service
Superannuation retirement, opt c
Retirement date: March 27, 2015

Murphy, Kevin T, Group 4, Fire Dept Battalion Chief
25 years service
Superannuation retirement, opt c
Retirement date: April 7, 2015

Ricardo, Holly A, Group 1, Health Inspector
41 years, 5 months service
Superannuation retirement, opt b
Retirement date: March 30, 2015

Rowland, Cheryl, Group 1, Library Tech.
15 years, 5 months service
Superannuation retirement, opt b
Retirement date: March 18, 2015

Plymouth Housing Authority:

Roveto, Joseph P., Group 1, Maintenance
30 years, 3 months service
Superannuation retirement. Opt c
Retirement date: April 27, 2015

New Business:

Proposal received from Cape Wide Telephone to replace existing telephones with a "All-in-One" system. Proposal is for five telephones and includes installation and protection package.

Section 91(b) Excess Earnings:

Board to review and discuss excess earnings by various retirees

Executive Session:

8:15 a.m.
Pursuant to MGL Chapter 30A, Section 21 (a)(3), and(5) the Board will enter into executive session to discuss and vote on the Accidental Disability retirement application of Anthony Colarusso, Group 4, Fire Fighter.

Pursuant to MGL Chapter 30A, Section 21 (a)(3), and(5) the Board will enter into executive session to hold a disability evidentiary hearings for an Accidental Disability retirement applications filed by Matthew Macomber, Police Officer.

9:00 a.m.
Pursuant to MGL Chapter 30A, Section 21 (a)(3) and (5), the Board will enter into executive session to hold an evidentiary hearing for witnesses subpoenaed in relation to the Accidental Disability application of Debora Axon.

Pursuant to MGL Chapter 30A, Section 21 (a)(3), and(5) the Board will enter into executive session to hear from its Attorney regarding ongoing litigation.

Next Meeting: