March 2022 Retirement Board Meeting

Pursuant to Governor Baker’s March 12, 2020, Order Suspending Certain Provisions of the Open Meeting Law, G.L. c. 30A, §18, and the Governor’s March 15, 2020, Order imposing strict limitations on the number of people that may gather in one place, this meeting of the Plymouth Retirement Board is being conducted via remote participation. No in-person attendance of members of the public will be permitted, but every effort will be made to ensure that the public can adequately access the proceedings as provided for in the Order.

Any member of the public that wishes to join the Plymouth Retirement Board Meeting remotely may call the Retirement Office at (508) 830-4170 or send an email to: karry@plymouthretirement.com

Section I: Regular Business:

Warrants:

Warrant #12 Dated December 31, 2021                                 $ 17,141,133.23 Final

Warrant #  1 Dated January 31, 2022                                     $   3,579,588.90 Final

Warrant # 2 Dated February 28, 2022                                    $   3,921,263.97 Partial

Warrant # 3 Dated March 31, 2022                                        $      185,166.31 Partial

Warrant #4 Dated April 30, 2022                                           $          6,556.00 Partial

Trial Balance as of January 31, 2022                         $ 255,703,971.65

January 2022 Accounting Reports Presented to Board for Review:

Rockland Trust - Checking & Money Market Acct Statements

Treasurer’s Reconciliation – RTC Checking & Money Market Accts

Trial Balance

Cash Receipts

Cash Disbursements

Adjustments

Public Comment:

New/Old Business:

PERAC Memos:

Memo #9/2022            Extension of Open meeting Law Waivers

Investments:

Anthony Tranghese from Fiducient Advisors will give a Portfolio Update & Review

Francesco Daniele, Director of Client Services at PRIM, will discuss the OPEB Fund investing in PRIT.

2022 PERAC Annual Statement:

Board to review the 2022 PERAC Annual Statement & supporting schedules.

Annual Vendor Disclosure Forms Received:

Acadian Asset Management

Aristotle Capital Management – International Equity Fund & Value Equity Strategy

Berman Tobacco

Boston Trust

Columbia Management

Fiducient Advisors

Lazard Asset Management

People’s United Bank

Rhumbline Advisors

Robbins, Geller, Rudman & Dowd LLP

Scott & Scott Attorneys at Law

Wellington Management – Core Bond Fund, Opportunistic Fund & Research Equity Fund

Westfield Capital Management

Section II: Membership:

New Hires:

Town:

9%       Cappellucci, Tara, Group 1, Administrative Secretary-Dept. of Inspectional Services

            Perm. Full-time: $798.28 weekly

            Start Date: March 21, 2022

9%       Santos, Lucas, Group 1, Laborer-Cemetery

            Perm. Full-time: $819.81 weekly

            Start Date: February 22, 2022

9%       Sinclair, William, Group 2, Wiring Inspector

            Perm. Full-time: $1,352.37 weekly

            Start Date: March 21, 2022

School:

9%       Cote, Nicholas, Group 1, Custodian

            Perm. Full-time: $1,667.81 bi-weekly

            Start Date: March 16, 2022

9%       Robinson, Kimberly, Group 1, Data Processing Secretary

            Perm. Full-time: $1,338.50 bi-weekly

            Start Date: March 7, 2022           

Refunds:

Town:

Dello Russo, Joseph, Group 1, Building Maintenance Craft Person

Three (3) Months Creditable Service (4/5/2021-7/6/2021)

Total Refund Including FWT: $50,812.26

Ehnes, Michael, Group 4, Firefighter

Zero Service (4/6/2020-4/30/2020)

Total Refund Including FWT: $446.30

Morse, Wayne, Group 1, Heavy Motor Equipment Operator

Three (3) Months Creditable Service (2/20/2018-6/14/2018)

Total Refund Including FTW: $1,239.78

Tavares, Kenneth, Group 1, Selectman

Ten (10) Years, Eleven (11) Months Creditable Service (5/10/1997-5/9/2009)

Total Refund Including FWT: $2,337.79

School:

King, Jeffrey, Group 1, Custodian

Five (5) Years, Two (2) Months Creditable Service (12/12/2016-3/1/2022)

Total Refund Including FWT: $23,990.02

Rollovers:

Town:

Parker, Allen, Group 1, Building Maintenance Craftperson

Three (3) Years, Ten (10) Months Creditable Service (10/16/2017-9/8/2021)

Total Rollover Amount: $16,970.27

Transfers:

School:

Bernard, Jeffrey, Group 1, Maintenance Custodial Floater

One (1) Month Creditable Service (12/6/2021-2/4/2022)

Total Transfer to Plymouth County Retirement Association: $784.60

Reardon, Michele, Group 1, Paraprofessional

Nine (9) Months Creditable Service (9/1/2015-6/20/2016)

Total Transfer to MA. Teachers Ret System: $1,816.80

Buybacks:

School: 

Tawa, Joseph, Group 2, Skilled Craftsman Electrician, has requested to purchase four (4) years of military service. Total military buyback: $26,074.88.  Watertown Retirement will take liability after completion of military buyback.

Retirements:

Town:

Vecchi, Paul, Group 1, Building Inspector

Thirty-Five (35) Years and Five (5) Months Creditable Service

Superannuation Retirement: opt c

Retirement Date: March 19, 2022

Brinkmann, Marie, Group 1, Director of Human Resources

Nineteen (19) Years, Nine (9) Months Creditable Service

Superannuation Retirement: opt c

Retirement Date: April 29, 2022

Bradley, G. Edward, Group 4, Fire Chief

Forty-Three (43) Years, Three (3) Months Creditable Service

Superannuation Retirement: opt c

Retirement Date: April 12, 2022

School:

Lowe, Anne, Group 1, Paraprofessional

Eleven (11) Years, Ten (10) Months Creditable Service

Superannuation Retirement: opt b

Retirement Date: March 1, 2022

Hahn, Philip, Group 1, Custodian

Twenty-Three (23) Years, One (1) Month Creditable Service

Superannuation Retirement: opt b

Retirement Date April 1, 2022

Panza, Kathryn, Group 1, Part-time Secretary

Eighteen Years (18) Years, Two (2) Months Creditable Service

Superannuation Retirement: opt a

Retirement Date: March 31, 2022

Canavan, C. Michelle, Group 1, Para-professional

Twenty (20) Years of Creditable Service

Superannuation Retirement: opt b

Retirement Date: April 1, 2022

Executive Session:

Pursuant to MGL Chapter 30A, Section 21 (a)(3), the Board will enter into Executive Session to discuss ongoing litigation.

Pursuant to MGL Chapter 30A, Section 21 (a)(1), The Board will enter into Executive Session to discuss the Accidental Disability Retirement Application for Thomas Kelley.

Pursuant to MGL Chapter 30A, Section 21 (a)(2), The Board will enter into Executive Session to discuss proposed amendments to the existing Retirement Staff Bylaws.