Auditor chosen for 7-year engagement through June 2026

The Franklin Regional Retirement Board members met on Wednesday, September 25, 2019 to compare evaluation notes and voted to offer the contract to Powers & Sullivan because they not only had the most, relevant experience, but also the second lowest total cost.  The 7-year period will encompass seven annual financial audits (2019 – 2025).

Melanson Heath has been the Board’s auditor since 2007, and the Board greatly appreciates the fine work they have done over the years.

Copies of most recent audits can be found at:
http://www.frrsma.com/annual-statements-and-audits/

The main evaluation results:

  • Powers & Sullivan – $129,500     38 MA retirement clients, 4 that were “counties”
  • Melanson Heath – 140,000          16 MA retirement clients, 2 that were “counties”
  • Roselli, Clark – 125,000                12 MA retirement clients, no counties
  • Lynch Marini – 155,750                   4 MA retirement clients, (1 curr., 3 rec. past)
  • Marcum – 172,050                           no MA retirement clients
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Actuary chosen for 7-year engagement through June 2026

The Franklin Regional Retirement Board members met on Wednesday, September 25, 2019 to compare evaluation notes and voted to offer the contract to KMS Actuaries because they offered the lowest total price as well as technical prowess equally as good as the competition. KMS Actuaries has been the Board’s actuary since 2014, and the Board looks forward to the next seven years of continuing good service. The 7-year period will encompass four bienniel valuations, and seven annual GASB 67 reports.

Copies of most recent valuations can be found at: http://www.frrsma.com/appropriationsassessments-and-actuarial-valuations/

The price proposals:

  • KMS Actuaries – $86,500
  • Stone Consulting – 99,350
  • Segal Consulting – 128,000
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August 2019 Regular Board Meeting Minutes Uploaded

The minutes of the August 28, 2019 Board meeting have been uploaded to the 2019 minutes page. Click here to view.

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The Agenda for the Wednesday, September 25, 2019 Regular Board Meeting has been uploaded.

The Agenda for the Wednesday, September 25, 2019 Regular Board meeting has been uploaded.  Click here to view.

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Election Notice 2019

The Franklin Regional Retirement System will be conducting an election beginning in September and concluding in December.  Please click the link to read the official notification and to download nomination papers:  Election 2019

Please note:  We provide limited information about the candidates on the Election 2019 webpage once their candidacy is certified.  Candidates are responsible for promoting their candidacy.  For the cost of handling and processing we will however address-label and mail their prepared and postage paid messages to the entire electorate.

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July 2019 Regular Board Meeting Minutes Uploaded

The minutes of the July 31, 2019 Board meeting have been uploaded to the 2019 minutes page. Click here to view.

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June 2019 Regular Board Meeting Minutes Uploaded

The minutes of the June 26, 2019 Board meeting have been uploaded to the 2019 minutes page. Click here to view.

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The Agenda for the Wednesday, July 31, 2019 Regular Board meeting has been uploaded.

The Agenda for the Wednesday, July 31, 2019 Regular Board meeting has been uploaded.  Click here to view.

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Public Notice for 2019 RFP for Actuarial Services

2019 Actuarial Services RFP Public Notice

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Public Notice for Audit Services 2019 RFP

2019 Audit Services RFP Public Notice

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