Agenda for the October 29, 2014 Board meeting has been uploaded.

Click here to view the agenda for the October 29, 2014 regular Board Meeting.

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PERAC 2012 Audit has been uploaded.

The PERAC 2012 final audit has been uploaded.  Click here to view the final audit of 2010, 2011, and 2012.

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Agenda for the November 5, 2014 Advisory Council Meeting has been uploaded.

Click here to view the agenda for the November 5, 2014 Advisory Council Meeting.

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January 1 2014 Actuarial Valuation uploaded

An actuarial valuation measures our financial health in the present, and then forecasts the expense of our future retirement payouts and our capacity to afford them.  We are looking pretty good.  Investment earnings outpaced added retirement benefits enough that we were able to shorten the payment schedule by two years, and, pull back our target investment rate from 7.875 to 7.75%. We rose from 63% to 70% funded from the last valuation two years ago.  Considering we are 65% of the way through the 40-year funding schedule (1988 to 2028)  - we are ahead by 5 points.

See page 15, and page 17 for quick numbers, but the rest of the report is a good read as well.

Click here: 2014 Valuation Report

Click here to see prior reports and other information: Valuation page - particularly the link to PERAC’s list of funded ratios throughout the State.

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Credit for Reserve Police and Fire Personnel

We have added a page to our website listing materials regarding Mass. General Law 32 §4(2)(b) which pertains to a special provision for police and fire personnel to receive credit for time they were listed as available to serve, prior to appointment to a permanent position (aka Reserve Police, Call firefighter). Click this link to get to the page: http://www.frrsma.com/police-and-fire-personnel/

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August 2014 Regular Board Meeting Minutes Uploaded

The minutes of the August 27, 2014 Board meeting have been uploaded to the 2014 minutes page. Click here to view.

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Agenda for the September 24, 2014 Board meeting has been uploaded.

Click here to view the agenda for the September 24, 2014 regular Board Meeting.

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Re-search of Mid Cap investment manager announced

State law requires we do a new search for each manager at least every five years.  We have scheduled ourselves to do one each year (as opposed to doing all in one year).  This year it is the mid cap manager.  Dahab Associates will handle the search.  It will start in September, then Dahab will report to us at the end of November, and if warranted, we will interview managers in January.  We are pleased with Seizert as our mid cap manager, and would be just as pleased to continue, but of course, we will have to see how they stack up against the competition.  Please note that Seizert will have to submit a new proposal to be included.

Click here to view the RFP on Dahab’s website.  It’s listed under October, “10/17/2014: Mid Cap Core $6mm”: http://www.dahab.com/searches/

 

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June and July 2014 Regular Board Meeting Minutes Uploaded

The minutes of the June 25 and July 30, 2014 Board Meetings have been uploaded to the 2014 minutes page. Click here to view.

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Election Notice 2014

The Franklin Regional Retirement System will be conducting an election beginning in September and concluding in December.  Please click this link to read the official notification and to download nomination papers: Election 2014

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