November 17, 2017 - Retirement Board Meeting Agenda

Section I: Regular Business:

Minutes:

Minutes of October 27, 2017                                                              Regular Meeting                 

Warrants: 

Warrant #9/2017, September 30, 2017:                                              $ 6,081,020.09 Final

Warrant #10/2017, Dated October 31,2017:                                      $1,808,044.23 Partial

Warrant #11/2017, Dated November 30, 2017:                                 $1,340,812.97 Partial

Warrant #12/2017, Dated December 31, 2017                                   $       3,911.19 Partial

Public Comment:

New/Old Business:

2018 Budget:

Board to review and vote 2018 Retirement System Budget

New Manager Funding/Termination of Prior Manager:

Columbia Threadneedle will be replacing Invesco as the High Yield manager as a result of the recent manager search.  Board to vote on termination of Invesco. 

Town Hall Time Capsule:

Review and vote on draft Retirement System Time Capsule report.

PERAC MEMOS:

Memo #33/2017: New Fraud Prevention Poster

Memo #34/2017: Administrator’s Training (November 14, 2017) – Location Change

Section II: Membership:

New Hires:

Town:

9%       Correa, Caitlyn, Group 1, Administrative Secretary

            Perm. Full-time: $752.24 weekly

            Start Date: November 6, 2017

9%       Long, Ammie, Group 1, Librarian

            Perm. Full-time: $870.63 weekly

            Start Date: November 20, 2017

9%       Whalen, Margaret, Group 1, Director of Community Development

            Perm. Full-time: $1,186.58 weekly

            Start Date: November 20, 2017

School:

9%       Allen, Obrean, Group 1, Custodian

            Perm.  Full-time: $1,588.80 bi-weekly

            Start Date: October 30, 2017

Buybacks:

Fitzpatrick, Nicole, Group 1, Paraeducator, has requested to purchase prior service from November 3, 2015 through September 12, 2017 with the Plymouth School Department.

Total Buy Back Amount: $ 1,179.23

LeGeyt, Carrie, Group 1, Behavior Analyst, has requested to purchase prior service from September 1, 2015 through August 30, 2017 with the Plymouth School Department.

Total Buy Back Amount: $11,564.41

Transfers:

Town:

Brindisi, Derek, Group 1, Assistant Town Manager

One (1) Year Eight (8) Months Creditable Service (11/2/2015-7/28/2017)

Total Transfer to Worcester Regional Retirement Board: $125,186.74

Retirements:

School:

Cretinon, Alan, Group 1, Skilled Craftsman

Thirty-Five (35) Years, Two (2) Months Creditable Service

Superannuation option: c

Retirement Date: November 28, 2017

Dagesse, Susan, Group 1, Cafeteria Worker,

Twenty-One (21) Years, Five (5) Months Creditable Service

Superannuation option: c

Retirement Date: December 1, 2017

Investments:

Tony Tranghese, CFA, Principal/Senior Consultant – Fiduciary Investment Advisors

Quarterly Investment Review
Update on High Yield transition

Vintage Year 2018 Private Equity Discussion

8:30     Barings Floating Rate Income Fund  

Mike Ziobrowski, Client Portfolio Manager, Director, High Yield Product Management

9:30     Acadian International Small Cap Fund

Heather Mazzarella, Client Service Associate

Scott Brymer, Vice President, Portfolio Manager

Next Meeting:  Friday, December 15, 2017