Election 2014 ballot counting date set

The counting of ballots for the election concluding Thursday, December 4, 2014 will be at 9:00 am on Friday, December 5, 2014 at our main office.

Please click this link to our election page to read the posted notice and instructions for ballot counters (thanks – we already have enough counters): http://www.frrsma.com/election-2014-2/

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2014 Mid cap search results

Massachusetts General Law 32 §23(b) requires that retirement systems in Massachusetts re-bid each investment contract at least every five years.

The Franklin Regional Retirement Board recently concluded its search for mid cap managers, and at its regular meeting on Monday, November 24, 2014 voted to retain/rehire its current mid cap manager, Seizert Capital Partners, because Seizert’s continued good performance was top in the pool of respondents.

Analysis and recommendation was made by the Board’s investment consultant(s), Greg McNeillie, and Steve Roth of Dahab Associates. Click here to read their summary:

Franklin Regional 2014 MCC Search summary

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

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

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Help wanted – Administrative Assistant

We are adding another person to our office, and people in the office are switching around thus leaving the Administrative Assistant position open.  Therefore, we are gearing up to fill that slot.  This is a great place to work.  The work is interesting and challenging, and we all work well together – which makes the days, weeks, months, and years fly by.

Here is our timeline for hiring.

  • Applications due on Friday, November 21, 2014
  • Interview committee decides on Monday, November 24, 2014
  • Interviews take place on Tuesday, December 2, 2014
  • Decision to hire or interview second round
  • Person starts as early as Monday, January 5, 2015

Click this link to our webpage for information about applying: Administrative Assistant Position December 2014

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September 2014 Regular Board Meeting Minutes Uploaded

The minutes of the September 24, 2014 Board meeting have been uploaded to the 2014 minutes page. Click here to view.

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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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