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