2017-11-28-RB-min - Laserfiche WebLink

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Minutes of the November 28, 2017 Retirement Board Meeting: Present: Robert Cunha, Joe Foley, Alan Fields, Marguerite Oliva and Jim Condon Absent: Frederick Weiss and Carolyn Kosnoff NEW MEMBERS; (7) Paul Cooper, Leah Buccheri, SSI; Robert LeBrasseur, Firefighter; Sabina Savlen-Ramina, SSP/Aide; Yasmeen Cheema, IA; James Evers, Arborist; Richard Harding, Mechanic. DEATHS: Lucy Terzian, School Secretary, 11/10/17 RETIREMENTS: Laraine Gralla, Custodian, 1/19/18 The Board accepted the 113017 Warrant and November payroll. The October minutes were reviewed and approved, as well as the cashbooks for September 2017. The Board discussed the Accidental Disability application for Alan DiPietrantonio. Bob Cunha made a motion for a Medical Panel to be set up. This motion was seconded by Joe Foley, and agreed upon by Alan Fields. It was noted this application and all future correspondence will be uploaded to the PERAC website portal, PROSPER, for further review. Jason Morey Accidental Disability application is underway with the medical review at PERAC. A matter concerning Mr. Ryan Bugler was presented by Bob Cunha. Mr. Bugler has applied for a wheelchair and medical bed for home use through the town. The town medical doctor will need to see if it is warranted based on his injuries from 2014. An update on this matter could be presented at the December 28, 2017 Board meeting. There was an $187,000.00 wire transfer to Vanguard by the Town. Board Members were reminded of PERAC Memo #30, which reminds the Board Members of their obligation to complete educational requirements by the end of this year. It was noted that all certificates and/or affidavits must be submitted through PROSPER. Henry Jaung presented the Meketa Update. The portfolio increased from $162.2m on 09/30/17 to $166.2m on 10/31/17. It is currently up 17.0% for 2017, and 18.7% over the past 12 months. The market remains strong and should continue its run to end 2017 and begin 2018. Fidelity Contrafund continues to perform well,posting 29.8%YTD and 31.2% over the last 12 months. Consumer companies continue to dominate the market for great gains the past few months. Our International Equity Asset Class is performing quite well. Matthews Tiger Fund YTD is 3 1.1%, while Acadian is 32.2%. Michael Trotsky and Paul Todisco from the PRIM Board presented their yearly update. Michael began with staffing levels and changes within the organization. He mentioned the Yd quarter earnings were very strong. It can be attributed to rising equity markets and lower bond yields. Even political controversies out of Washington, D.0 have yet to derail this year's strong market.