April 26, 2019 Retirement Board Meeting
Section I: Regular Business:
Minutes:
Minutes of March 29, 2019 Regular Meeting
Warrants:
Warrant #2 Dated February 28, 2019 $ 3,165,839.82 Final
Warrant #3 Dated March 31, 2019 $ 5,121,936.78 Final
Warrant #4 Dated April 30, 2019 $ 258,934.44 Partial
Warrant #5 Dated May 1, 2019 $ 6,000.00 Partial
Trial Balance as of March 31, 2019: $173,894,290.09
Public Comment:
New/Old Business:
Powers & Sullivan:
The Board received copies of the Final Audit of Specific Elements, Accounts, and Items of Financial Statements for Year Ended December 31, 2017
PERAC MEMOS:
Memo #12/2019: Tobacco Company List
Memo #13/2019: Mandatory Retirement Board Member Training – 2nd Quarter 2019
Memo #14/2019: Forfeiture of Retirement Allowance for Dereliction of Duty by Members
Memo #15/2019: Application for a Waiver of Education Restrictions
Investments:
Anthony Tranghese will give a Portfolio Update and Review & FY20/20 Appropriation Discussion.
Investment Manager Presentation:
8:45 - Sandi Schoren-Testa and Andy Burkly - Templeton-International Equity
Section II: Membership:
New Hires:
Town:
9% Breen, Caitlyn, Group 1, Dispatcher
Perm. Full-time: $783.23 weekly
Start Date: April 16, 2019
9% DeCoste, Denise, Group 1, Inspector/Lister
Perm. Full-time: $924.74 weekly
Start Date: April 22, 2019
School:
9% Racicot, Ryan, Group 1, Moderate Special Needs Paraprofessional
Perm. Full-time: $849.51 bi-weekly
Start Date: March 25, 2019
9% Thomas, Stephen, Groundsman Floater – PSMS
Perm. Full-time: $1,591.38 bi-weekly
Start Date: April 1, 2019
Rollovers:
School:
Thompson, Ami, Group 1, Paraeducator
Nine (9) Years, Two (2) Months Creditable Service (9/18/2006-3/15/2019)
Total Rollover: $18,615.24
Transfers:
Town:
Chiros, Andrea, Group 1, Social Outreach Worker
One (1) Year, Eight (8) Months Creditable Service (4/3/2017-1/2/2019)
Total Transfer to State Retirement Board: $7,910.78
Young, Jennifer, Group 1, Director of Elder Affairs
Eight (8) Years, One (1) Month Creditable Service (2/14/2011-3/21/2019)
Total Transfer to Hingham Retirement Board: $39,605.96
School:
Slazas, Christina, Group 1, Paraprofessional
Ten (10) Months Creditable Service (10/24/2016-9/22/2017)
Total transfer to MA Teachers Retirement System: $1,457.08
Retirements:
Town:
Westerlind, Marilyn T., Group 1, Administrative Assistant
Sixteen (16) Years Creditable Service
Superannuation Retirement opt: b
Retirement Date: June 28, 2019
Roderick, Anna, M., Group 1, Crossing Guard
Twelve (12) Years, One (1) Month Creditable Service
Superannuation Retirement opt: c
Retirement Date: May 1, 2019
Volta, Janine, M., Group 1, Crossing Guard
Twenty Years (20), Nine (9) Months Creditable Service
Superannuation Retirement opt: b
Retirement Date: May 1, 2019
School:
McAuley, Duncan A., Group 1, Custodian
Sixteen Years (16), Five (5) Months Creditable Service
Superannuation Retirement opt: b
Retirement Date: April 26, 2019
Creditable Service Request:
Duncan McAuley, Group 1 Custodian retiring on April 26, 2019, has requested one month of creditable service for the month of October 2018. Mr. McAuley was out on approved unpaid leave during this time and did not receive creditable service.
Ch 176 of the Acts of 2011, S. 48: $15,000 Minimum Retirement Allowance of Retirees with 25 or More Years Service:
Board to discuss the re-calculation and retroactive payments to 10 retirees who had 25 or more years creditable service.
Section III:
Executive Session:
Pursuant to MGL Chapter 30A, Section 21 (a)(3), the Board will enter into executive session to discuss ongoing litigation.