December 2018 Retirement Board Meeting
Section I: Regular Business:
Minutes:
Minutes of November 30, 2018 Regular Meeting
Warrants:
Warrant #10 Dated October 31, 2018 $ 4,359,828.81 Final
Warrant #11 Dated November 30, 2018 $ 1,807,786.08 Partial
Warrant #12 Dated December 31, 2018 $ 78,155.91 Partial
Warrant #1 Dated January 31, 2019 $ 3,997.34 Partial
Trial Balance as of October 31, 2018 $ 182,661,172.90
Public Comment:
New/Old Business:
NCPERS Conference:
NCPERS 2019 Legislative Conference, January 27 – 29, 2019
PERAC MEMOS:
Memo #33/2018: CRAB’s Order of Partial Stay Regarding Regular Compensation Status of Payments Made in Lieu of Unused Leave Time
Memo #34/2018: Tobacco Company List
COLA Vote:
There is a 30-day notice requirement for the posting of the COLA Vote. If the Board wants to have the COLA Vote meeting in January 2019, the meeting date must be January 25, 2019.
Section II: Membership:
New Hires:
Town:
9% Bates, Joseph, Group 1, Inspector/Lister
Perm. Full-time: $924.74 weekly
Start Date: December 3, 2018
School:
9% Costello, John, Group 1, Custodian
Perm. Full-time: $1560.15 bi-weekly
Start Date: December 3, 2018
Refunds:
Town:
Ferguson, Joel, Group 4, Police Officer
Four (4) Years, One (1) Month Creditable Service (9/15/2014-11/12/2014)
Total Taxable Refund including FWT: $25,970.56
Total Non-Taxable Refund: $959.50
Heylin, Patricia, Group 1, Programs Coordinator/Fiscal Manager
Five (5) Years, Four (4) Months Creditable Service (7/1/2013-11/2/2018)
Total Refund Including FWT: $17,809.11
School:
Callahan, Tracy, Group 1, Paraeducator
Eight (8) Years, Seven (7) Months Creditable Service (8/5/2006-6/22/2018)
Total Refund Including FWT: $17,008.31
Zeoli, Kristen E., Group 1, Registered Behavior Specialist
Five (5) Years, Five (5) Months Creditable Service (8/26/2014-6/22/2018)
Total Refund Including FWT: $17,048.79
School:
3(8)(c ) Liability:
Marlene (Elias) Walsh, former Administrative Assistant with the Plymouth Housing Authority, is currently a member of the Berkshire County Retirement System. Ms. Walsh worked from April 2, 1984 – November 23, 1990, and took a refund of her deductions on November 30, 1990, in the amount of $9,455.98. Ms. Walsh is requesting to purchase her prior refund. If proper deductions and interest are re-deposited, will the Board take 3(8)(c ) Liability for six (6) years and eight (8) months creditable service?
CORRECTION- James C. Tobin, former Energy Conservation Coordinator with the Plymouth Public Schools is currently a member of the Lowell Retirement System. Mr. Tobin worked from August 22, 2005-April 28, 2010, and took a refund of his deductions on February 17, 2012, in the amount of $25,699.74. If proper deductions and interest are re-deposited, will the Board take 3(8)(c ) Liability for four (4) years and one (1) month creditable service? Total creditable service should have been four (4) years and eight (8) months.
Retirements:
Town:
Kierstead, Barry L., Group 4, Fire Fighter
Thirty-Two (32) Years of Creditable Service
Superannuation Retirement: option c
Retirement Date: December 22, 2018
Rogers, John Jr., Group 4, Police Captain
Thirty-three (33) Years, One (1) Month of Creditable Service
Superannuation Retirement: option c
Retirement Date: December 28, 2018
Section III:
Investment Manager Presentations 2018:
Portfolio Review-Anthony Tranghese
8:30 a.m.- Boston Partners-Large Cap Value
9:00 a.m.-Boston Trust-Small Cap Core
9:30 a.m.- Acadian- International Small Cap
10:00 a.m.- Rhumbline- S&P 500 Index
Executive Session:
Pursuant to MGL Chapter 30A, Section 21 (a)(3), the Board will enter into executive session to discuss ongoing litigation.