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2013-01-24-RB-min
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2013-01-24-RB-min
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Minutes - RB - Retirement Board
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Scott Brink, Jake Brown and Tom Levering attended the meeting to discuss Enduring <br />Assets and Opportunistic Investment Funds. The Opportunistic Fund earned 14.4% for <br />the one year period ending 12/31/12 and the Enduring Assets for a six month period from <br />June 2012 earned 5.1 %. Market value of Opportunistic is $14,455,602 and Enduring <br />Assets is $5,473,298. <br />The FY' 14 COLA notice has been posted and a vote will be taken at the next meeting. <br />The Board decided to maintain the $12,000 base and not seek an increase at this time. <br />Articles for the increase in Section 101 and Section 12 (2 )(d) benefits have been reserved <br />for Town Meeting. <br />The Vanguard balance for 12/31/12 is $2,822,738. The Town will not be appropriating <br />any additional OPEB funds this year. <br />Buybacks from Annmarie Kelleher and Amy Sullivan were approved unanimously. <br />PERAC approval of the new funding schedule and FYI 3 Town Appropriation were <br />received. <br />A notification will be sent to MA Retirees United of the anticipated time and cost <br />associated with compiling requested information. A request for a copy of their charter <br />will be included. <br />Fidelity representatives will be invited to attend the February meeting for annual review. <br />A motion was made, seconded and approved unanimously to adjourn the meeting at <br />11:15. <br />The next meeting will be held March 28, 2013, 8:00 AM at Cary Memorial Library. <br />Robert W. Cunha, Chairman <br />Michael McNabb, Appointed Member <br />Robert Addelson, Ex Officio Member Joseph Foley, Elected Member <br />Alan Fields, Appointed Member <br />
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