May 31, 2019 Retirement Board Meeting

Section I: Regular Business:

Minutes:

Minutes of April 26, 2019                                                      Regular Meeting                    

Warrants: 

Warrant #4 Dated April 30, 2019                                           $    3,089,005.38 Final

Warrant #5 Dated May 31, 2019                                            $       114,486.94 Partial

Warrant #6 Dated June 30, 2019                                            $           6,000.00 Partial

Trial Balance as of April 30, 2019:                $172,829,639.17                                                

Public Comment:

New/Old Business:

MACRS Trustee Education Seminary & 2019 Annual Spring Conference:

Board to vote on attendance for the MACRS Trustee Education Seminar & 2019 Annual Spring Conference, June 1 – 5, 2019.

2019 Election Results:

Pursuant to PERAC Regulations 840 CMR, 7.05, Board shall vote to declare Thomas Kelley and Dale Webber to be the elected members of the Board, as they were the only nominees for the election for a 3-year term of July 1, 2019 through June 30, 2022.  Board to declare that no election shall be held.

PERAC MEMOS:

Memo #16/2019:         Cash Book Submissions

Investments:

Anthony Tranghese will give a Portfolio Update and Review & FY20/20 Appropriation Discussion.

FY 2020 Annual Appropriation:

Board to discuss the FY2020 appropriation allocation to managers.

Investment Manager Presentations:

9:00 a.m. – Greg Allison (via conference call) and Rob Moriarty (present)- Invesco International

9:30 a.m. - Scott Brymer and Julie Snaman - Acadian

Section II: Membership:

New Hires:

Town:

9%       Borsari, Douglas, Group 1, Laborer-Highway

            Perm. Full-time: $757.38 weekly

            Start Date: April 29, 2019

9%       Lunetta, Mark, Group 1, Maintenance Worker-Cemetery

            Perm. Full-time: $803.10 weekly

            Start Date: May 13, 2019

School:

9%       Murphy, Patrick Group 1, Custodian

            Perm. Full-time: $1,591.38 bi-weekly

            Start Date: May 13, 2019

9%       Nahas, Nadeam, Group 1, HVAC Technician

            Perm. Full-time: $2,436.38 bi-weekly

            Start Date: May 1, 2019

Refunds:

Town:

Golden, Nicholas, Group 4, Police Officer

Two (2) Years, Seven (7) Months Creditable Service (4/11/2016-11/13/2018)

Total Refund Including FWT: $13,067.54

Hickey, Michael, Group 1, Laborer

Refund of additional deductions due to retroactive contract settlement

Total Refund Amount: $4.26

School:

Bolle, Jennifer, Group 1, Technical Studies Financial/Guidance Secretary

Two (2) Years, Ten (10) Months Creditable Service (8/18/2015-6/22/2018)

Total Refund Including FWT: $9,793.48

Ruxton, Christopher, Group 1, Paraeducator ASD Program

One (1) Year, Eight (8) Months Creditable Service (9/5/2017-5/7/2019)

Total Refund Including FWT: $3,082.68

Transfers:

Town:

Genao, Silvio, Group 1, Asst. DPW Director

Transfer additional deductions due to retroactive contract settlement

Total Transfer to Barnstable County Retirement Board: $53.11

Livera, Frank, Group 1, Recreation Assistant

Two (2) Years, Eleven (11) Months Creditable Service (4/19/2016-4/6/2019)

Total Transfer to Middlesex County Retirement Board: $11,912.26

School:

Mitchell, Holley, Group 1, Paraprofessional

Seven (7) Months Creditable Service (11/7/2017-6/22/2018)

Total Transfer to MA Teachers’ Retirement System: $13,297.25

3(8)(c ) Liability:

Kelly Kunkle, former Paraprofessional for Plymouth Public Schools is currently a member of the MA Teachers’ Retirement System.  Ms. Kunkle worked as a part-time Paraprofessional from March 14, 2011 to March 1, 2013.  Ms. Kunkle was not allowed membership into the Plymouth Retirement System.  If proper repayment of deductions and interest is made, will the Board take 3(8)(c ) Liability for one (1) year of service?

Retirements:

Town:

Bishop, Jefferey, Group 4, Lieutenant-Plymouth Fire Dept.

Thirty-Two (32) Years Creditable Service

Superannuation Retirement opt: c

Retirement Date: May 20, 2019

Furtado, Richard, Group 1, Assistant Harbormaster

Thirty-Five (35) Years, Ten (10) Months Creditable Service

Superannuation Retirement opt: b

Retirement Date: June 1, 2019

School:

Martin, Diane, Group 1, Paraeducator

Twenty (20) Years, Two (2) Months Creditable Service

Superannuation Retirement option: b

Retirement Date: June 17, 2019

PHA:

Clements, Lynn, M., Group 1, Assistant Book Keeper

Twenty-Eight (28) Years, One (1) Month Creditable Service

Superannuation Retirement option: b

Retirement Date: June 2, 2019

Section III:

Executive Session:

Pursuant to MGL Chapter 30A, Section 21 (a)(3), the Board will enter into executive session to discuss ongoing litigation.