February 2024 Retirement Board Meeting
This meeting of the Town of Plymouth Retirement Board will be held in person.
Section I: Regular Business:
Minutes:
Minutes of January 26, 2024 Regular Session
Warrants:
Warrant #12 Dated December 31, 2023 $ 3,213,955.85 Partial
Warrant #1 Dated January 31, 2024 $ 2, 212,719.84 Partial
Warrant #2 Dated February 29, 2024 $ 342,051.67 Partial
Warrant # 3 Dated March 1, 2024 $ 6,753.00 Partial
Trial Balance as of December 2023: $254,157,0008.01
December 2023 Accounting & Banking Reports Presented to Board for Review:
Rockland Trust Checking & Money Market Acct Statements
Rockland Trust Checking & Money Market Acct Treasurer’s Reconciliations
Trial Balance
Cash Receipts
Cash Disbursements
Adjustments
Public Comment:
New/Old Business:
PERAC Memos:
Memo #7/2024: Buyback and Make-up Repayment Worksheets
Memo #8/2024: PROSPER COLA Submission is almost here!
Memo #9/2024: Actuarial Data
Investments:
Portfolio Update and Review
Section II: Membership:
New Hires:
Town:
9% Chen, Fuming, Group 4, Police Officer
Perm. Full-time: $1,255.55 weekly
Start Date: February 26, 2024
9% Genao, Silvio, Group 1, Assistant Town Manager of Administration & Human Resources
Perm. Full-time: $3,076.92 weekly
Start Date: February 20, 2024
9% Gomes, Joshua, Group 1, Maintenance Worker-Parks Division
Perm. Full-time: $985.18 weekly
Start Date: January 26, 2024
9% Westgate, Chelsea, Group 1, CPC/COPC Coordinator
Perm. Full-time: $1,157.63 weekly
Start Date: February 12, 2024
9% Whyte, Michael, Group 4, Police Officer
Perm. Full-time: $1,255.55 weekly
Start Date: February 26, 2024
School:
9% Plant, Kyle, Group 1, Paraprofessional
Perm. Full-time: $1,126.31 bi-weekly
Start Date: January 16, 2024
9% Sontag, John, Group 1, Groundskeeper
Perm. Full-time: $1,921.60 bi-weekly
Start Date: February 12, 2024
Buybacks:
School:
Waive Interest on Buy Back:
Due to a School Payroll error, the following two members were inadvertently removed from the Town’s Pension and placed into OBRA. This error has been corrected and the two members have been put back into the Town’s Pension. If paid in full by December 31, 2024, will the Board waive the interest on the buy backs due to a payroll error?
Gail Trail did not have deductions taken from June 23, 2023 through January 26, 2024. The amount that Ms. Trail would owe the System is $828.86 for this service.
Penny Freeman did not have deductions taken from May 5, 2023 through January 26, 2024. The amount that Ms. Freeman would owe the System is $1,151.52 for this service.
Refunds:
School:
Diane Surdam, Group 1, Paraprofessional – DOD: December 26, 2023
Death Refund paid to Aaron Surdam on behalf of member Diane Surdam: $10,804.85
Death Refund paid to Christopher Surdam on behalf of member Diane Surdam: $10,804.84
Transfers:
Town:
Guarnotta, Anthony, Group 1, Master Mechanic
Nine (9) Years, One (1) Month Creditable Service (11/10/2014-12/25/2023)
Total Transfer to State Retirement Board: $55,096.59
School:
Braun, Denise, Group 1, Paraprofessional
Six (6) Years, Eight (8) Months Creditable Service (2/20/2017-11/17/2023)
Total Transfer to State Retirement Board: $15,939.91
Hurley, Julie, Group 1, Administrative Secretary/Assistant to the School Business Administrator
One (1) Year, Eleven (11) Months Creditable Service (7/1/2021-6/9/2023)
Total Transfer to Weymouth Retirement Board: $48,360.03
Retirements:
School:
Turk, Michelle, Group 1, Special Needs Aide
Twenty (20) Years of Creditable Service
Superannuation Retirement: opt B
Retirement Date: February 1, 2024
Executive Session:
Pursuant to MGL Chapter 30A, Section 21 (a)(3), the Board will enter into Executive Session to discuss ongoing litigation.