November 18, 2016 - Retirement Board Meeting Agenda

PLYMOUTH RETIREMENT BOARD Friday, November 18, 2016 8:00 a.m.

10 Cordage Park Circle, Suite 240 Plymouth MA 02360

Section I: Regular Business

Minutes:

Minutes of October 28, 2016                          Minutes of OPEB Meeting

Minutes of October 28, 2016                          Executive Session

Warrants:

Warrant #9 Dated September 30, 2016                      $     4,007,271.85 Final

Warrant #10 Dated October 31, 2016                         $     5,620,884.41 Partial

Warrant #11 Dated November 30, 2016                     $        179,499.03 Partial

Warrant #12 Dated December 31, 2016                     $            3,873.13 Partial

Trial Balance as of September 2016                           $154,111,532.57        

Public Comment:

Section II: Membership:

Hearing Pursuant to M.G.L. c.32 sec. 15(4) &16(1):

Board to hold a hearing for Lynda Scolamiero, former Health Department Administrative Assistant.

New Hires:

Town:

9%       Gordon, Peter, Group 1, Cross Connection Inspection-Water Div.

            Perm. Full-time: $889.02 weekly

            Start Date: November 14, 2016

9%       Mascio, Michael, Group 4, Firefighter

            Perm. Full-time: $1007.61 weekly

            Start Date: November 14, 2016

9%       McDaniel, Scott, Group 1, Dispatcher

            Perm. Full-time: $741.87 weekly

            Start Date: November 7, 2016

9%       Smith, Joshua, Group 4, Student Police Officer

            Perm. Full-time: $967.30 weekly

            Start Date: October 31, 2016

9%       Vico, Austin, Group 4, Student Police Officer

            Perm. Full-time: $967.30 weekly

            Start Date: October 31, 2016

School:

9%       Hester, Mark, Group 1, Paraeducator

            Perm. Full-time: $808.58 bi-weekly

            Start Date: November 7, 2016 

9%       Moniz, John, Group 1, Paraprofessional

            Perm. Full-time: $869.87 bi-weekly

            Start Date: August 29, 2016

9%       Slazas, Christina, Group 1, Paraeducator

            Perm. Full-time: $846.55 bi-weekly

            Start Date: October 24, 2016

Retirements:

Town:

Higgins, Victor, M., Group 4, Police Lieutenant

Thirty-nine (39) years and eleven (11) months service

Superannuation retirement, opt c

Retirement Date: November 30, 2016

Walulik, Barbara, Group 1, Assistant Collector

Twenty-one years (21), three (3) months service

Superannuation retirement, opt b

Retirement Date: December 16, 2016

School:

Pollard, Nancy, Group 1, Paraprofessional

Twenty-six (26) years and nine (9) months Creditable Service

Superannuation retirement opt b

Retirement Date: December 9, 2016

Refunds:

School:

Martel, Debra, Group 1, Custodian

Four (4) Years, Five (5) Months Creditable Service (12/27/11-6/17/2016)

Total Refund Including FWT: $17,472.86     

McLoud, Nancy, Group 1, Paraprofessional

Nine (9) Months Creditable Service, (9/1/2015-6/20/2016)

Total Refund Including FWT: $2,032.66

Tibbetts, John, Group 1, Custodian

One (1) Months Creditable Service (8/9/2005-9/1/2006)

Total Refund Including FWT: $298.44

Rollovers:

School:

Kerr, Michelle, Group 1, Special Needs Aide

Eight (8) Years Seven (7) Months Creditable Service (3/1/04-10/24/12)

Total Rollover Amount: $9,377.44

3(8)(c ) Liability:

School:

Kathryn Gravelle, is a former part-time Paraprofessional. She was not eligible for membership in the Plymouth Retirement System.  Ms. Gravelle is now a member of the Massachusetts Teachers’ Retirement System.  She would like to purchase her prior service from October 14, 2008 to June 20, 2011.  If proper deductions and interest are deposited, will the Board accept one (1) year 3(8)(c ) liability for Ms. Gravelle?

Transfers:

School:

Chapman, Adam, Group 1, Custodian

One (1) Year, Six (6) Months Creditable Service

Total Transfer to Plymouth County Retirement Board: $5,619.57

Liskov, Tricia, Group 1, Technical Studies Secretary

Five (5) Years, Three (3) Months Creditable Service (9/2/10-1/1/16)

Total Transfer to Barnstable County Retirement Board: $16,295.08

Section III: Investments Agenda with Manager Reviews

Annual Investment Manager Interviews:

8:30 a.m.         Third Quarter Investment Review

                        Tony Tranghese, CFA principal/Senior Consultant-Fiduciary Investment Advisors

9:00 a.m.         Barings Floating Rate Income Fund

Steve Rixham, Managing Director, HY Product

Mike Ziobrowski, Director, HY Product Management

Lauren McDermott, Assoc. Director, Business Development

9:30 a.m.         Acadian International Small Cap Fund

Mike Goulet-Client Services Associate

Scott Brymer-Vice President, Portfolio Manager

10:00 a.m.       Invesco-High Yield Fund and International Growth Fund

Keri Hepburn, Managing Director

Scott Roberts, Portfolio Manager (High Yield)

Greg Allison, Client Pertfolio Manager (International Growth Fund)

10:30 a.m.       RhumbLine S&P 500 Index Fund

Denise D’Entremont, Director

Section IV: Executive Session:

Pursuant to MGL Chapter 30A, Section 21 (a)(1). The Board will enter into executive session to hold a hearing on the Regional Medical Panel findings for the Accidental /Ordinary Disability Application of Jeremy Sullivan.

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