November 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 October 25, 2024              Regular Session

Minutes of October 25, 2024              Executive Session    

Warrants:           

Warrant #9 Dated September 30, 2024                      $6,668,461.04             Final

Warrant #10 Dated October 31, 2024                         $3,272,333.88             Partial

Warrant #11 Dated November 30, 2024                     $   109,460.60             Partial

Warrant #12 Dated December 31, 2024                     $        6,955.59            Partial 

Trial Balance as of September 30, 2024:                   $281,232,737.41                    

September 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

Public Comment:

New/Old Business:

MACRS 2024 Fall Conference:

MACRS 2024 Fall Conference, December 8 – 11, 2024, Springfield Sheraton

PERAC Memos:

Memo #27/2024:         Changes to Return to Service under G.L. c. 32, § 8

Memo #28/2024:         Violent Assault Disability: Chapter 149 of the Acts of 2024

Memo #29/2024:         FY26 Appropriation Questionnaire in PROSPER

Annual Investment Manager Reviews:

Westfield Capital Management – Justin Moscardelli / Mike Kinney

Boston Trust – Leanne Moore/Kai Smith

Investments:

  • Performance Update and Review
  • 2025 Private Equity Commitment

Section II: Membership:

New Hires:

Town:

9%       Basler, Matthew, Group 4, Firefighter

            Perm. Full-time: 1,192.14 weekly

            Start Date: November 4, 2024

9%       Batres, Joshua, Group 4, Firefighter

            Perm. Full-time: $1,192.14 weekly

            Start Date: November 4, 2024

9%       Brown, Gareth, Group 4, Firefighter

            Perm. Full-time: $1,192.14 weekly

            Start Date: November 4, 2024

9%       DePasquale, Anthony, Group 4, Firefighter

            Perm. Full-time: $1,192.14 weekly

            Start Date: November 4, 2024

9%       Disher, Kevin, Group 4, Firefighter

            Perm. Full-time: $1,192.14 weekly

            Start Date: November 4, 2024

9%       Ford, Kristin, Group 1, CPC/COPC Coordinator

            Perm. Full-time: $1,192.59 weekly

            Start Date: November 18, 2024

9%       George, Derek, Group 4, Police Officer (Rehire)

            Perm. Full-time: $1,457.60 weekly

            Start Date: October 15, 2024

9%       License, Jonathan, Group 4, Firefighter

            Perm. Full-time: $1,192.14 weekly

            Start Date: November 4, 2024

9%       Pravati, Joseph, Group 4, Firefighter

            Perm. Full-time: $1,192.14 weekly

            Start Date: November 4, 2024

9%       Rose, Steven, Group 1, Fire Mechanic (Rehire)

            Perm Full-time: $1,571.61 weekly

            Start Date: October 15, 2024

9%       Smith, Andrew, Group 4, Firefighter

            Perm. Full-time: $1,192.14 weekly

            Start Date: November 4, 2024

School:

9%       Cohen, James, Group 1, Custodian

            Perm. Full-time: $1,998.40 bi-weekly

            Start Date: November 25, 2024

9%       Jansson, Natalie, Group 1, Cafeteria Worker

            Perm. Full-time: $1,088.80 bi-weekly

            Start Date: November 12, 2024

9%       White, Samantha, Group 1, Paraeducator

            Perm. Full-time: $1,225.15 bi-weekly

            Start Date: November 12, 2024

Transfers:

Town:

Regalado, Noah, Group 4, Patrolman

One (1) Year, Seven (7) Months Creditable Service (2/6/2023-9/11/2024)

Total Transfer to State Retirement Board: $22,137.6

Buybacks:

Town:

Brumble, Joshua, Group 4, Firefighter, has requested to purchase four (4) years of Military Service. Total Military Buyback Amount is: $11,667.20.

Driscoll, George, Group 4, Police Lieutenant, has requested to purchase four (4) years of Military Service. Total Military Buyback Amount is $15,557.40.

Hargis, Michael, Group 4, Firefighter, has requested to purchase four (4) years of Military Service. Total Military Buyback Amount is $18,585.28

Provo, Craig, Group 4, Police Sergeant, has requested to purchase three (3) years, ten (10) months of Military Service. Total Military Buyback Amount is $14,030.98. 

Tassinari, David, Group 4, Firefighter, has requested to purchase three (3) years, three (3) months of Military Service. Total Military Buyback Amount is $5,408.00.

Wilson, Emily, Group 1, Asst. Commissioner of Health and Human Services, has requested to purchase a prior refund of four (4) months service with the State Retirement Board. State Retirement Board will take liability for this service.

Total Buyback Amount: $3,141.81

Joseph Dello Russo, former Group 1 Building Maintenance Craft Person, has requested to purchase a prior refund with total service calculating to ten (10) years and eleven (11) months. Ten (10) years and eight (8) months of this service was with the Melrose Retirement Board and three (3) months service was with the Town of Plymouth.

Total Buyback Amount: $55,364.05

Retirements:

Town:

Machado, Daniel, Group 1, Special Heavy Equipment Operator

Thirty-Eight (38) Years, Two (2) Months Creditable Service

Superannuation Retirement: Opt. B

Retirement Date November 30, 2024

Kane, Gregory, Group 4, Deputy Chief

Thirty-two (32) Years, Two (2) Months Creditable Service

Superannuation Retirement: Opt. C

Retirement Date December 31, 2024

School:

Freitas, Christine, Group 1, School Secretary

Twenty-Three (23) Years, Nine (9) Months Creditable Service

Superannuation Retirement: Opt. B

Retirement Date: October 24, 2024

Fetzner, Mary-Lee, Group 1, Special Needs Aide

Nineteen (19) Years Creditable Service

Superannuation Retirement: Opt. B

Retirement Date: November 12, 2024

Executive Session:

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