May 29, 2015 - Retirement Board Regular Meeting Agenda

Section I: Regular Business:

Minutes:

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

Warrants:

Warrant # 3, Dated March 31, 2015: $ 2,832,090.81 Final
Warrant # 4, Dated April 30, 2015: $ 1,524,889.67 Partial
Warrant # 5, Dated May 31, 2015: $ 234,530.13 Partial
Warrant #6, Dated June 30, 2015: $ 3,778.66 Partial

Public Comment:

Section II: General Correspondence:

PERAC:

PERAC Memo's

Memo #11/2015: New Post-Retirement Limits on Employment for Disability Retirees

Conferences:

PRIM Annual Investor Conference, November 5, 2015 at College of the Holy Cross, Worcester, MA, 8:30 a.m. – 3:00 p.m.. (3 educational credits)

Investments:

Anthony Tranghese of FIA will be present to performance and review the July 1, 2015 appropriation details.

Funding Schedule/Actuarial Valuation:

James Lamenzo, PERAC Actuary, will be present to discuss the 2015 investment return assumption, recommended change in mortality table & the funding schedule.

Section III: Membership:

New Hires:

Town:

9% Shaw, Robert, Group 4, Police Officer
Perm. Full-time, $916.04 weekly
Start Date: May 4, 2015

9% Peterson, Walter, Group 4, Police Officer
Perm. Full-time, $916.04 weekly
Start Date: May 4, 2015

9% DeLaura, Jr., Thomas, Group 4, Police Officer
Perm. Full-time, $916.04 weekly
Start Date: May 4, 2015

9% Roth, Karl, Group 1, Dispatcher
Perm. Full-time, $727.32 weekly
Start Date: May 23, 2015

School:

8% Beaudoin, Gayle, Group 1, Special Needs Aide
Perm. Full-time, $554.45 weekly
Start Date: March 31, 2015

Refunds:

School:

Bramhall, Cheryl A., Group 1, Classroom Aide
10 Months Creditable Service (10/24/05-8/26/06)
Total Refund Including FWT: $499.49

Canevazzi, Andrea M., Group 1, Computer Lab Aide
4 Months Creditable Service (9/23/13-2/21/14)
Total Refund Including FWT: $718.46

Ferland, Alex F., Group 1, Custodian
4 Years 6 Months Creditable Service (9/7/10-4/24/15)
Total Refund Including FWT: $17,198.55

3(8)(c) Liability:

Joani Adams, former Special Needs Aide for Plymouth Public Schools is currently a member of the Plymouth County Retirement Association. Ms. Adams worked from September 5, 1986 – June 21, 1991, and then took a refund of her deductions on June 16, 1992, in the amount of $2,286.15. Ms. Adams is requesting to purchase her prior refund. If proper deductions and interest are re-deposited, will the Board take 3(8)(c) Liability for four (4) years and seven (7) months creditable service.

Retirements:

School:

Anderson, Maryellen, Group 1, Special Needs Aide
16 years, 7 months service
Superannuation retirement, opt b
Retirement date: April 29, 2015

Herring, Mary T., Group 1, Administrative Assistant
27 years, 7 months service
Superannuation retirement, opt b
Retirement date: June 30, 2015

Section 9 Accidental Death Benefits:

Linda Flattery, widow of Chester Flattery, former Group 1, School Department Custodian, died July 7, 2014, has applied for Section 9 Accidental Death benefits.

Section 91(b) Excess Earnings:

Executive Session:

8:00 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 discuss excess earnings by Robert Pomeroy under Section 91.

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: Friday, June 19, 2015