July 2025 Retirement Board Meeting
This meeting of the Town of Plymouth Retirement Board will be held in person.
Section I: Regular Business:
Minutes:
Minutes of June 27, 2025 Regular Session
Minutes of June 27, 2025 Executive Session
Warrants:
Warrant #5 Dated May 31, 2025 $ 2,806,170.51 Final
Warrant #6 Dated June 30, 2025 $ 2,329,314.16 Partial
Warrant #7 Dated July 31, 2025 $ 4,604,914.34 Partial
Warrant #8 Dated August 1, 2025 $ 4,457,164.26 Partial
Trial Balance as of May 31, 2025: $271,877,897.13
May 2025 Accounting & Banking Documents:
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 #17/2025: Revised Language for Benefit Calculation Approval Letters
Memo #18/2025: Cyber Attack
Memo #19/2025: Updated Member and Beneficiary Refund Forms & IRS Special Tax Notice
Memo #20/2025: Mandatory Retirement Board Member Training – 3rd Quarter 2025
Memo #21/2025: FY2026 Budget and the Definition of Wages in Chapter 32
Memo #22/2025: Fraud Alert
Memo #23/2025: Cost of Living Increase for Supplemental Dependent Allowance Paid to Accidental Disability Retirees and Accidental Death Survivors
Memo #24/2025: Reinstatement to Service under G.L. c. 32 § 105
Investments:
Board to discuss the closure of the Wellington Opportunistic Investment Fund.
June 2025 Investment and OPEB Fund Performance Review
GASB 67 & 68 Report:
KMS Actuaries has prepared the GABS 67 & 68 Financial Reporting & Disclosures as of December 31, 2024
Section II: Membership:
New Hires:
School:
Paull, Shannon, Group 1, Secretary-Academic Coordinator
Perm. Full-time: $1,704.77 bi-weekly
Start Date: July 17, 2025
Buybacks:
Town:
Brown, Mathew, Group 4, Fire Dept., has requested to purchase two (2) years, five (5) months of Military Service. Buyback amount is $10,966.31.
Cook, Gregory, Group 4, Fire Dept., has requested to purchase four (4) years of Military Service. Total Military Buyback amount is $18,151.12.
Houston, Kevin, Group 4, Fire Dept., has requested to purchase two (2) years of Military Service. Total Military Buyback amount is $8,554.52.
Johnson, Jack, Group 4, Fire Dept., has requested to purchase four (4) years of Military Service. Total Military Buyback amount is $14,650.06.
Johnson, Seth, Group 4, Police Dept., has requested to purchase one (1) year, four (4) months of Military Service. Total Military Buyback amount is $5,779.97.
Larivee, Patrick, Group 4, Fire Dept., has requested to purchase four (4) years of Military Service. Total Military Buyback amount is $21,586.86.
Lebretton, James, Group 4, Police Dept., has requested to purchase four (4) years of Military Service. Total Military Buyback amount is $15,868.53.
Manuel, Kevin, Group 4, Police Dept., has requested to purchase four (4) years of Military Service. Total Military Buyback amount is $14,281.92.
Prada, Joshua, Group 4, Fire Dept., has requested to purchase four (4) years of Military Service. Total Military Buyback amount is $18,151.12.
Soell, Andrew, Group 4, Fire Dept., has requested to purchase four (4) years of Military Service. Total Military Buyback amount is: $17,686.88.
Thomas, Erik, Group 4, Fire Dept., has requested to purchase four (4) years of Military Service. Total Military Buyback amount is $18,135.12.
School:
Dailey, Barbara, Group 1, Bus Driver, has requested to purchase prior service as a bus driver for the School Department of sixteen (16) years, seven (7) months. Total buyback amount is $43,350.40.
3(8)(c ) Liability:
School:
Kristen Richardson, former part-time paraprofessional for Plymouth Public Schools is currently a member of the MA Teachers Retirement System. (She is not a current teacher for the Plymouth Schools). Ms. Richardson was not allowed membership into the Plymouth Retirement System therefore she paid into OBRA. If proper repayment of deductions is made, will the Board take 3(8)(c ) liability for ten (10) months service.
Retirements:
Town:
Kittredge, James, Group 4, Fire Fighter
Thirty-Four (34) Years, Eleven (11) Months Creditable Service
Superannuation Retirement: Opt: C
Retirement Date: July 10, 2025
School:
Section III: Executive Session:
Pursuant to MGL Chapter 30A, Section 21 (a)(3), the Board will enter into Executive Session to discuss ongoing litigation.