May 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 April 26, 2024 Regular Session
Minutes of April 26, 2024 Executive Session
Warrants:
Warrant # 3 Dated March 31, 2024 $ 2,688,221.42
Warrant #4 Dated April 1, 2024: $ 38,192,148.22
Warrant #5 Dated May 31, 2024 $ 306,052.29
Warrant #6 Dated June 30, 2024 $ 6,955.59
Trial Balance as of March 2024: $256,386,724.57
March 2024 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
Account Reconciliation for period of January 1, 2024 – March 31, 2024
Public Comment:
New/Old Business:
Public Hearing:
Travel and Credit Card Use Regulations
January 1. 2024 Actuarial Valuation:
Linda Bournival of KMS Actuaries will be present to discuss the preliminary results for the January 1, 2024, actuarial valuation.
Overtime as Regular Compensation:
Patrick Daly, OPEIU Local 6 Business Manager, will be present to discuss his questions regarding overtime as regular compensation.
PTG Contract Proposal :
Board to discuss the PTG extended contract proposal.
Annual Affidavit Notary Public Discussion:
Board to discuss PERAC Memo #13/2024 – 840 CMR 15.01 no longer requires that a notarized affidavit be filed with the retirement board. Instead, retirees and beneficiaries are eligible to submit the signed affidavit under penalty of perjury.
Investments:
- Portfolio Update and Review
- FY25 Annual Appropriation discussion
- Investment Policy Statement updates
Section II: Membership:
New Hires:
Town:
9% Allard, Connor, Group 1, Laborer-Cemetery
Perm. Full-time: $950.36 weekly
Start Date: May 13, 2024
9% Balboni, Michael, Group 1, Building Custodian
Perm. Full-time: $950.36 weekly
Start Date: May 6, 2024
9% Donovan, Devon, Group 1, Epidemiologist
Perm. Full-time: $1,387.50 weekly
Start Date: May 1, 2024
9% Lind, Lauren, Group 1, Deputy Director of Planning & Development
Perm. Full-time: $2,229.48 weekly
Start Date: May 6, 2024
Buybacks:
Town:
Parmley, Lane, Group 4, Firefighter, has requested to purchase four (4) years of military service. Total military buyback is $18,150.88.
School:
Peters, Ann Marie, Group 1, Paraeducator, has requested to purchase six (6) months of creditable service for the period that she was inadvertently removed from the pension system by the School Payroll department. The total amount of buyback for this service is: $667.96.
Refunds:
Town:
Gifford, Heather, Group 1, Administrative Assistant-Assessor’s
Fifteen (15) Years, Two (2) Months Creditable Service (4/12/2004-6/28/2019)
Total Refund Including FWT: $57,681.30
School:
Brown, Collis, Group 1, Custodian
One (1) Years, Three (3) Months Creditable Service (1/17/2023-5/3/2024)
Total Refund Including FWT: $6,333.31
Rollovers:
School:
Dolan, Michael, Group 1, Custodian
Eight (8) Years, Seven (7) Months Creditable Service (8/5/2015-3/31/2014)
Total Rollover: $43,244.55
Transfers:
Town:
Brothers, Brad, Group 1, Assistant Town Manager
One (1) Year, Eleven (11) Months Creditable Service (4/25/2022-3/29/2024)
Total Transfer to Hampden County Regional Retirement Board: $35,450.89
Gauthier, Alfred, Group 1, Recreation Program Supervisor
Two (2) Years, Four (4) Months Creditable Service (3/18/2020-7/27/2022)
Total Transfer to Norfolk County Retirement Board: $11,554.75
Reil, Mark, Group 1, Climate Resiliency/Sustainability Planner
One (1) Year, Four (4) Months Creditable Service (7/5/2022-12/1/2023)
Total Transfer to Barnstable County Retirement Board: $48,720.70
School:
Fender, Walter, Group 1, Special Needs Aide
Six (6) Months Creditable Service (8/30/2005-3/17/2006)
Total Transfer to Plymouth County Retirement: $472.23
Retirements:
Town:
Hawthorne, Douglas, Jr., Group 1, Building/Plumber & Gas Inspector
Twenty-Eight (28) Years of Creditable Service
Superannuation Retirement: Opt. C
Retirement Date: July 5, 2024
School:
Young, Regina, Group 1, Student Activities Monitor
Eighteen (18) Years, Six (6) Months of Creditable Service
Superannuation Retirement: Opt. B
Retirement Date: June 13, 2024
Coombs, Cynthia, Group 1, Paraprofessional
Ten (10) Years, Five (5) Months Creditable Service
Superannuation Retirement: Opt. B
Retirement Date: June 13, 2024
Cadieux, Laurie, Group 1, Paraprofessional
Twelve (12) Years, Five (5) Months Creditable Service
Superannuation Retirement: Opt. B
Superannuation Retirement: June 13, 2024
Executive Session:
Pursuant to MGL Chapter 30A, Section 21 (a)(3), the Board will enter into Executive Session to discuss ongoing litigation.