November 2018 Retirement Board Meeting
Section I: Regular Business:
Minutes:
Minutes of October 26, 2018 Regular Meeting
Minutes of October 26, 2018 Executive Session
Warrants:
Warrant #9 Dated September 30, 2018 $ 6,689,616.88 Final
Warrant #10 Dated October 31, 2018 $ 3,200,226.63 Partial
Warrant #11 Dated November 30, 2018 $ 1,775,290.13 Partial
Warrant #12 Dated December 31, 2018 $ 3,997.34 Partial
Trial Balance as of September 30, 2018 $ 184,424,202.86
Public Comment:
New/Old Business:
PERAC MEMOS:
Memo #32/2018: Procurement
Section II: Membership:
New Hires:
Town:
9% Arponen, Marissa, Group 1, Laborer – Cemetery
Perm. Full-time: $757.38 weekly
Start Date: November 19, 2018
9% Cushman, Ryan, Group 1, Laborer – Highway
Perm. Full-time: $757.38 weekly
Start Date: November 13, 2018
9% Serrilla, Michael, Group 1, Motor Equipment Operator – Highway
Perm. Full-time: $757.38 weekly
Start Date: November 13, 2018
School:
9% Grimes, Margaret, Group 1, School Committee Secretary
Perm. Full-time: $2,269.23 bi-weekly
Start Date: November 5, 2018
9% Hernandez, Nickolas, Group 1, Custodian
Perm. Full-time: $1,560.15 bi-weekly
Start Date: November 13, 2018
9% Nickerson, Laura, Group 1, School Nurse Floater
Perm. Full-time: $3,248.01 bi-weekly
Start Date: October 22, 2018
9% Rogan, Lynne, Group 1, Paraeducator
Perm. Full-time: $923.20 bi-weekly
Start Date: October 29, 2018
9% Wetherell, Kelli, Group 1, Registered Behavior Technician
Perm. Full-time: $1,556.86 bi-weekly
Start Date: November 5, 2018
Buybacks:
School:
Campbell, Diana, Group 1, Paraeducator, has requested to purchase prior part-time service from January 7, 2008 through October 8, 2018 with the Town of Plymouth School Department.
Total Buyback Amount: $11,648.49
Refunds:
Town:
Maughan, Allan, Group 4, Police Officer
Refund of Overpayment of Non-Taxable Deductions paid for Intermittent Police Service.
Total Refund: $209.28
Rollovers:
School:
McGovern, Cathy Ann, Group 1, Cafeteria Worker
Eleven (11) Years, Eight (8) Months Creditable Service (1/8/2007-9/28/2018)
Total Rollover: $8,772.84
Transfers:
School:
Cannon, Jennifer, Group 1, Special Needs Aide
Nine (9) Months Creditable Service (12/4/2000-9/4/2001)
Total Transfer to Barnstable County Retirement Associate: $240.91
MacDonald, Jane, Group 1, Student Services Secretary
Five (5) Years, Nine (9) Months Creditable Service (9/4/2012-6/22/2018)
Total Transfer to Quincy Retirement Board: $16,880.25
3(8)(c ) Liability:
Darlene M. DeLancey, former Special Needs Aide with the Plymouth Public Schools is currently a member of the Falmouth Retirement System. Ms. DeLancey worked from August 31, 1999 – August 1, 2005, and took a refund of her deductions on February 28, 2013, in the amount of $2,784.07. Ms. DeLancey is requesting to purchase her prior refund. If proper deductions and interest are re-deposited, will the Board take 3(8)(c ) Liability for five (5) years and nine (9) months creditable service?
James C. Tobin, former Energy Conservation Coordinator with the Plymouth Public Schools is currently a member of the Lowell Retirement System. Mr. Tobin worked from August 22, 2005-April 28, 2010, and took a refund of his deductions on February 17, 2012, in the amount of $25,699.74. If proper deductions and interest are re-deposited, will the Board take 3(8)(c ) Liability for four (4) years and one (1) month creditable service?
Retirements:
Town:
Smith, Michael, J. Group 1, Maintenance Worker-Parks Dept.
Twenty-nine (29) Years, Ten (10) Months Creditable Service
Superannuation Retirement: opt c
Retirement Date: November 21, 2018
School:
Dargie, Nancy J., Group 1, Administrative Secretary
25 years creditable service
Superannuation retirement, opt c
Retirement date: December 28, 2018
Maher, Denise, Group 1, Cafeteria Worker
Twenty-Four (24) Years Creditable Service
Superannuation Retirement: opt b
Retirement Date: December 31, 2018
Noel, Denise, Group 1, Paraeducator
Twelve (12) Years, Four (4) Months Creditable Service
Superannuation Retirement: opt b
Retirement Date: November 14, 2018
Cowan, Dave, Group 1, Head Custodian
Thirteen (13) Years, One (1) Month Service
Superannuation Retirement: opt c
Retirement Date: December 21, 2018
Section III:
Investment Manager Presentations 2018:
8:30 a.m.- Ameriprise
9:00 a.m.-Westfield-Large Cap Growth
9:30 a.m.- Barings-Floating Rate Income
10:00 a.m.- PRIM General Allocation, Real Estate, Hedge Funds, Private Equity
Executive Session:
Pursuant to MGL Chapter 30A, Section 21 (a)(3), the Board will enter into executive session to discuss ongoing litigation.
Next Meeting:
December 21, 2018