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November 2023 Retirement Board Meeting | Plymouth Retirement

November 2023 Retirement Board Meeting

This meeting of the Town of Plymouth Retirement Board will be held in person.

Section I: Regular Business:

Minutes:

Minutes of October 27, 2023                                      Regular Session

Minutes of October 27, 2023                                      Executive Session                                            

Warrants:

Warrant #9 Dated September 30, 2023                      $ 5,331,295.20 Final

Warrant #10 Dated October 31, 2023                         $ 2,462,914.46 Partial    

Warrant #11 Dated November 30, 2023                     $     313,364.62 Partial

Warrant #12 Dated December 31, 2023                     $         6,753.00 Partial

Trial Balance as of September 2023:                          $240,441,963.22                                                        

Accounting & Banking Reports Presented to Board for Review:

September 2023

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 #23/2023: Paid Family and Medical Leave (“PFML”) & Supplemental Payments

Memo #24/2023: Outsourced Chief Investment Officer (OCIO) Policy

Memo #24a/2023: Outsourced Chief Investment Officer (OCIO) Policy

Memo #25/2023: Cybersecurity Training

Investments:

Portfolio Update and Review as of October 31, 2023

Annual Manager Reviews

PRIT Vintage Year 2024 Commitment Vote

Section II: Membership:

New Hires:

Town:

9%       Asher, Brittney, Group 4, Firefighter

Perm. Full-time: $1,168.77 weekly

Start Date: November 27, 2023

           

9%       Flynn, Virginia, Group 1, Administrative Assistant

Perm. Full-time: $1,157.63 weekly

Start Date: October 30, 2023

 

9%       Larson, Jill, Group 1, Administrative Assistant

Perm. Full-time: $991.74 weekly

Start Date: November 13, 2023

 

9%       License, Jonathan, Group 4, Firefighter

Perm. Full-time: $1,168.77 weekly

Start Date: November 27, 2023         

 

9%       McCombs, Rebecca, Group 4, Firefighter

Perm. Full-time: $1,168.77 weekly

Start Date: November 27, 2023

 

9%       McGovern, Kerri, Group 1, Library Technician

            Perm. Full-time: $792.20 weekly

            Start Date: November 20, 2023

 

 

 

9%       Pecor, Wesley, Group 4, Firefighter

            Perm. Full-time $1,168.77 weekly

            StartDate: November 27, 2023

 

9%       Sheehan, Brandon, Group 4, Firefighter

            Perm. Full-time $1,168.77 weekly

            Start Date: November 27, 2023

 

9%       Thompson, Alec, Group 4, Firefighter

            Perm. Full-time: $1,168.77 weekly

            Start Date: November 27, 2023

 

9%       Ulmer, Daniel, Group 4, Firefighter

            Perm. Full-time: $1,168.77 weekly

            Start Date: November 27, 2023

 

9%       Watson, Samuel, Group 1, Professional Librarian

            Perm. Full-time: $1,096.77 weekly

            Start Date: November 8, 2023

           

School:

 

9%       Almeder, Justin, Group 1, Custodian

            Perm. Full-time: $1,921.60 bi-weekly

            Start Date: November 13, 2023

 

9%       Peterson, Erin, Group 1, Paraprofessional

Perm. Full-time: $1,077.77 bi-weekly

Start Date: November 1, 2023

 

Refunds:

 

Town:

 

Porter, Robert, Group 1, Maintenance Worker – Parks

Four (4) Years, Seven (7) Months Creditable Service (3/18/2019-10/30/2023)

Total Refund Including FWT: $22,899.88

 

Transfers:

Town:

Sgarzi, Sheila, Group 1, Assistant DPW Director

Eighteen (18) Years, Four (4) Months Creditable Service (5/23/2005-9/26/2023)

Total Transfer to Plymouth County Retirement Board: $155,603.92

 

Thomas, Steven, M, Group 4, Police Officer

One (1) Year, Five (5) Months Creditable Service (4/4/2022-9/10/2023)

Total Transfer to State Retirement Board: $56,282.21

 

School:

 

Keane, Shaelen, Group 1, Paraeducator

Six (6) Months Creditable Service (11/23/2020-6/21/2021)

Total Transfer to Plymouth County Retirement Board: $1,095.58

 

Buybacks:

 

Town:

 

Andruchow, Barbara, Group 1, Library Technician, has requested to purchase six (6) months of creditable service for the period of March 14, 2023, through May 29, 2023, for prior part-time service with the Plymouth Public Library.

Total Buyback Amount is $2,116.52

 

Reimer, Dennis, Group 4, Police Lieutenant, has requested to purchase two (2) years of military service. Total military buyback is $6,372.57.

 

School:

 

Cicchetti, Karen, Group 1, Paraprofessional, has requested to purchase one (1) year of creditable service for the period of February 25, 2013 through August 31, 2015, for prior part-time service with the Plymouth School Department.

Total Buyback Amount is $2,120.34

 

Retirements:

 

Town:

 

Disalvatore, Kathleen, Group 1, Fire Administrative Assistant

Thirty-Two (32) Years, Eight (8) Months Creditable Service

Superannuation Retirement: opt C

Retirement Date: October 26, 2023

 

Gellar, Edward, Group 1, Chief Master Mechanic Plymouth Fire Department

Twenty-Four Years, Two Months Creditable Service

Superannuation Retirement: opt C

Retirement Date: December 11, 2023

 

MacCormack, John, Group 1, Memorial Hall Custodian

Twenty-One (21) Years, Four (4) Months Creditable Service

Superannuation Retirement: opt B

Retirement Date: January 31, 2024

 

Executive Session:

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