May 20, 2016 - Retirement Board Meeting Agenda

PLYMOUTH RETIREMENT BOARD Friday, May 20, 2016 8:05 a.m.

10 Cordage Park Circle, Suite 240 Plymouth MA 02360

Section I: Regular Business:

Minutes:

Minutes of April 15, 2016                                          OPEB Meeting

Minutes of April 15, 2016                                          Regular Meeting

Minutes of April 15, 2016                                          Executive Session

Warrants:

Warrant #  3, Dated March 31, 2016                          $   3,018,669.66 Final

Warrant #  4, Dated April 30, 2016                            $   1,475,061.47 Partial

Warrant #  5, Dated May 31, 2016                             $      153,543.43 Partial

Warrant #  6 Dated June 30, 2016                              $         3,873.13 Partial

Trial Balance: March 31, 2016                                   $143,114,874.35

Public Comment:

Section II: General Correspondence:

PERAC Memos:

Memo #15/2016: Disability Regulations and Signed Transmittals

Investments:

Anthony Tranghese from FIA to give preliminary April 2016 performance update & discuss the Appropriation Distribution due July 1, 2016.

Portfolio Monitoring Service:

Scott & Scott has sent the Board their 1st Qtr. 2016, Quarterly Review Reports

Request for Proposals:

Board to discuss and review rating of applicants of RFP for Investment Consulting Services

New Hires:

Town:

9%       Healey, Virginia, Group 1, Volunteer Coordinator

            Perm. Full-time: $536.21 weekly

            Start Date: May 11, 2016

9%       Hickey. Michael, Group 1, Laborer-Cemetery

            Perm. Full-time: $717.38 weekly

            Start Date: May 16, 2016

9%       Livera, Frank, Group 1, Recreation Assistant

            Perm. Full-time: $737.23 weekly

            Start Date: April 19, 2016

PHA:  

9%       Letourneau, JoAnna, Group 1, Administrative Secretary

            Perm. Part-time: $1,040.00 bi-weekly

            Start Date:  April 11, 2016
Retirements:

School:

Kirkland, Patricia, Group 1, Kitchen Manager

18 years service

Superannuation retirement, opt c

Retirement date: June 20, 2016

PHA:

Blanchard, Stephanie, Group 1, Computer Systems Manager

14 Years, 5 months service

Superannuation retirement, opt b

Retirement Date: May 31, 2016

Transfers:

School:

Carey, Susan, Group 1, Secretary

8 Years 5 Months Creditable Service (10/9/12-6/17/15)

Total Transfer to State Retirement Board: $15,811.40

Buybacks:

Town:

McCall, Kerin, Group 1, Environmental Technician, has requested a buyback of eight (8) months of service for prior seasonal employment with the Parks Division – DPW

Total Buyback Amount: $3,013.05.

Board Policy for Interest on Errors:

Board to discuss and adopt a policy that addresses interest refunded & owed based upon errors.

Staff Bylaw Amendments:

Discussion on possible amendment to Retirement Office Staff Bylaw for LTIA buy back. Request made to change LTIA buy back from five (5) days per year to ten (10) days per year, upon accrual of 180 days.

Section V: Executive Session:

Pursuant to MGL Chapter 30A, Section 21 (a)(1), the Board will enter into executive session to hold an Evidentiary Hearing on the Ordinary/Disability Application for Richard Civetti.

Pursuant to MGL Chapter 30A, Section 21 (a)(1), the Board will enter into executive session to hold an Evidentiary Hearing on the Involuntary Accidental Disability Application of Thomas Kelley.

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: