October 28, 2016 - Retirement Board Meeting Agenda
Section I: Regular Business:
Minutes:
Minutes of September 23, 2016 Minutes of Regular Meeting
Minutes of September 23, 2016 Executive Session
Minutes of October 13, 2016 Minutes of Regular Meeting
Warrants:
Warrant # 8 Dated August 31, 2016 $ 5,700,393.00 Final
Warrant #9 Dated September 30, 2016 $ 2,637,309.81 Partial
Warrant #10 Dated October 31, 2016 $ 4,189,535.80 Partial
Warrant #11 Dated November 30, 2016 $ 3,873.13 Partial
Trial Balance as of $150,963,602.31
Public Comment:
Section II: General Correspondence:
PERAC Memos:
Memo #23/2016: Tobacco Company List
Memo #24/2016: Mandatory Retirement Board Member Training-4 th Qtr 2016
Memo #25/2016: Other Post-Employment Benefits (OPEB) Summary
Memo #26/2016: Appropriation Data Due October 31, 2016
Financial Statement Audit:
Draft Financial Statements for year ended December 31, 2015, prepared by Powers & Sullivan.
2017 Budget:
Board to review 2017 Budget.
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Actuarial Valuation:
Jim Lamenzo from PERAC will discuss the January 1, 2017, actuarial valuation.
Annual Investment Manager Interviews:
8:30 a.m. FIA – Performance Update
9:00 a.m. Boston Advisors
Doug Riley, CFA, Portfolio Manager
Andrea Mackey, Institutional Client Services
9:30 a.m. Boston Trust
Mark Cushing, CFA, Managing Director
Richard Williams, CFA, Portfolio Manager
10:00 a.m. Westfield Capital
Justin Moscardelli, Partner,
John Montgomery, Managing Partner
10:30 a.m. PRIM Real Estate, Hedge Funds & Private Equity
Paul Todisco, Senior Client Services Officer
Section III: Membership:
New Hires:
Town:
9% Brennan, Tara, Group 1, Administrative Secretary-Collector’s
Perm. Full-time: $730.32 weekly
Start Date: October 3, 2016
9% Coady, Parker, Group 1, Building Custodian
Perm. Full-time: $735.32 weekly
Start Date: October 20, 2016
9% Cummiskey, Thomas, Group 1, Librarian
Perm. Full-time: $824.66 weekly
Start Date: October 11, 2016
9% Kinski, Timothy, Group 1, Inspector/Lister
Perm. Full-time: $897.80 weekly
Start Date: October 3, 2016
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9% Quinn, MaryJane, Group 1, Dispatcher
Perm. Full-time: $741.87 weekly
Start Date: October 28, 2016
School:
9% Costello, Caitlyn, Group 1, Paraprofessional
Perm. Full-time: $788.47 bi-weekly
Start Date: October 3, 2016
9% Dupuis, Rachel, Group 1, Speech/Language Assistant
Perm. Full-time: $1,690.89 bi-weekly
Start Date: August 29, 2016
9% Godfrey, Christine, Group 1, Paraprofessional
Perm. Full-time: $788.47 bi-weekly
Start Date: August 29, 2016
Retirements:
Town:
Higgins, Paul, J., Group 4, Police Lieutenant
20 years creditable service
Superannuation retirement, opt c
Retirement Date: October 31, 2016
School:
Verzone, Darlene E., Group 1 Paraprofessional
17 years creditable service
Superannuation retirement, option b
Retirement Date: November 11, 2016
Refunds:
Town:
Knight, De’Lorez, Group 1, Outreach Worker
One (1) Year, Two (2) Months Creditable Service (01/31/20015-04/28/2006)
Total Refund Including FWT: $1,892.34
Sampson, Shaune, Group 4, Fire Fighter
Four (4) Months Creditable Service (12/27/2010-5/20/2011)
Total Refund Including FWT: $1,934.24
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Eddy Bruce, Group 4, Fire Fighter
Refund of Non-Taxable Deductions paid towards an incomplete Military Buy-Back
Mr. Eddy Retired under Accidental Disability Retirement on 10/8/2016
Total Refund: $7,590.00
Scolamiero, Lynda J., Group 1, Administrative Assistant-Health Dept.
Thirteen (13) years, ten (10) months Creditable Service (1/22/01-12/5/14)
Total Deductions: $46,700.83 – Total Interest thru 10/31/16: $950.95
Ms. Scolamiero was terminated by the Town on 12/5/2014.
Board to Discuss Ms. Scolamiero’s Refund Application
Buybacks:
Town:
Lightbody, Joan, Group 1, Police Dept. Administration, has requested to purchase
prior service from October 22, 1985 through July 21, 1986, with the Plymouth Police
Department.
Total Buy Back amount $1,191.31
3(8)(c ) Liability:
Diane Byers, is a former full-time seasonal Natural Resources Officer. She was not eligible for
membership in the Plymouth Retirement System. Ms. Byers is now a member of the Barnstable
County Retirement Association. She would like to purchase her prior service from May 4, 2015
to September 8, 2015. If proper deductions and interest are deposited, with the Board accept
four (4) months 3(8)(c ) liability for Ms. Byers?
Transfers:
Town:
Cohen, Angela, Group 1, Administrative Secretary
Nine (9) Months Credible Service (03/3/2003-02/17/2004)
Transfer to State Retirement Board: $1,848.59
Newton, Daniel, Group 1, Dispatcher
One (1) Year, Ten (10) Months Creditable Service (11/10/2014-09/24/2016)
Total Transfer to Plymouth County Retirement Board: $7,556.47
School:
Alwardt, Sharon, Group 1, Paraprofessional
Four (4) Years, Eleven (11) Months Creditable Service (12/11/2000-11/30/2005)
Transfer to MA. Teachers’ Retirement System: $3,418.30
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Special Leave Status Policy:
Board to discuss the adoption of the Town of Plymouth, Board of Selectmen’s Policy, Special
Leave Status Policy.
Section V: Executive Session:
Pursuant to MGL Chapter 30A, Section 21 (a)(1). The Board will enter into executive session to
hold an evidentiary hearing for the Accidental Disability Application of Paul Jennings.
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 Disability Application
of Darlene Viella.
Pursuant to MGL Chapter 30A, Section 21 (a)(3), the Board will enter into executive session to
hear from its Attorney regarding ongoing litigation.