Advisory Council Meeting 9-13-2011 posted

Posted on September 12, 2011 by Dale Kowacki

A meeting on September 13, 2011 at 4:00 pm of the Advisory Council of the Retirement System has been scheduled, posted, and uploaded.  Click here to view. 

The Advisory Council consists of all the “treasurers” from each member unit of the system (towns, schools, agencies, districts) and meets at least twice each year.  This particular meeting not only includes discussion to prepare for the upcoming board election, it includes some topical and timely presentations on new rules regarding “pensionable” compensation, and the significance of start and end dates of employees.

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Board election 2011 Announced

Posted on August 31, 2011 by Staff

August 31, 2011 – The various positions on our retirement board are filled by both election and appointment.  It is now time to conduct a regular, three-year election for the “third member” of the board.  As of this writing, the current member in that position, Mary Stokarski, is planning to run for re-election.  Click here for more information and to obtain the nomination packet.

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Office Closed – August 25, 2011 9:00am – 12:30pm – Presentation

Posted on August 24, 2011 by Staff

The office will be closed on August 25, 2011 from 9:00am to 12:30pm. Staff is giving a Presentation – “Understanding your Retirement Options” in the Orange Town Hall.

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August Board Meeting Agenda uploaded

Posted on August 20, 2011 by Dale Kowacki

Click here to view the agenda for the August 31, 2011 Board meeting.

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Office closed Tuesday, August 23, 2011 – Conference

Posted on August 19, 2011 by Staff

The office will be closed Tuesday, August 23, 2011. Staff is attending an all day Educational Conference. We will be back on Wednesday, August 24, 2011.

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Presentation – Understanding your Retirement Options

Posted on August 11, 2011 by Staff

Do you want to know more about your benefits through the Franklin Regional Retirement System?  Join us for a short presentation followed by a question and answer session on Thursday, August 25, 2011, 10:00 a.m. in the Orange Town Hall, 6 Prospect Street, Orange, MA.  Check out the Flier.  Click here to browse a copy of the Public Employee Retirement Guidebook.

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Great Response to Assessment “Full-pay” Option

Posted on August 8, 2011 by Dale Kowacki

In 2010, the Board approved offering discounts to member units (towns, schools, agencies) that wanted to pay their annual assessments in full on July 1st each year (otherwise make semiannual payments on July 1st and January 1st).  This year, participation was up markedly over last year with 34 out of 39 making the early payment (22 last year).  This year we collected $4,719,171, left $285,104 outstanding (until Jan 1), and gave a total of discounts of $84,110.  Last year we collected $4,129,880, left $808,500 outstanding, and discounted $65,334.  All of this is a great benefit to the towns.  They save the interest on half the assessment for half a year (7.875 % annual), and they get the money into our investments sooner so we get that much more opportunity for positive returns – which goes right back into our reserves and helps knock-down future costs, thereby lowering future assessments to the towns.  Click here to see the assessment chart for this year.

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Meeting Minutes for June Uploaded

Posted on July 29, 2011 by Staff

The minutes of the June 29, 2011 Board meeting have been uploaded to the 2011 minutes page.  Click here.

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Cost of Living Increase for retirees

Posted on July 27, 2011 by Staff

The cost of living increase, approved by the Board earlier this year, and effective as of 7/1/2011, has been added to the July retirement benefit for all retirees with an effective retirement date of June 30, 2010 or prior.  The increase is equal to 3% of the annual benefit up to a maximum of $390 annually, or $32.50 monthly.

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July Board Meeting Agenda Uploaded

Posted on July 22, 2011 by Staff

Click here to view the agenda for the July 27, 2011 Board Meeting.

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