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Announcement of Election Results |
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Please be advised that as a result of the election held in the Weymouth Retirement Board Office, 807 Broad Street, E. Weymouth, on December 13, 2011, Richard Hayes was elected to the Weymouth Retirement Board for a three year term which will expire on December 31, 2014.
Of the total votes cast, the results were as follows:
| Richard Hayes |
Retiree, Weymouth Police Dept. |
407 |
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Richard Swanson
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Retiree, Town Auditor |
32 |
| Total Votes Cast |
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439 |
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An election for the purpose of electing a member of the Weymouth Retirement System for a three-year term of office, which will run from January 1, 2012 through December 31, 2014, will be held on December 13, 2011. Election ballots may be cast on that date at the Weymouth Retirement Board office from 8:00 a.m. to 6:00 p.m. Absentee ballots and ballots mailed in from retired members must be received at the Weymouth Retirement Board office no later than 4:30 p.m. on Tuesday, December 13, 2011 to be counted. Completed and returned ballots will be counted on December 13, 2011 and results announced as soon as possible.
All those holding membership in the Weymouth Retirement System, including retirees, excluding member survivors and option c beneficiaries are eligible as candidates provided they file a nomination paper with the Weymouth Retirement Board containing the signatures of at least twenty members of the Weymouth Retirement System. The nomination papers must be filed with the Weymouth Retirement Board on or before 4:00 p.m. October 28, 2011 at the Board’s office located at 807 Broad Street, Weymouth, Massachusetts 02189.
The nomination paper may be obtained at the office of the Weymouth Retirement Board, having normal business hours of 8:30 a.m. to 4:30 p.m., Monday to Friday.
Election Ballots
If the Board determines that more than one candidate has been nominated, the Board shall prepare an official election ballot. Each retired member, excluding member survivors and option c beneficiaries will be sent a ballot by mail. Active members who will be unable to cast a vote in person on December 13, 2011 may make a written request to the election officer for an absentee ballot. |
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June 2011 Retirement News |
- On June 6, 2011, Gregory P. Hargadon was re-appointed by the Mayor to his 6th term on the Weymouth Retirement Board. Mr. Hargadon has served on the Board since February 10, 1997 and as Chairman of the Board since November 14, 2008.
- New Health & Dental Insurance rates effective July 1, 2011
- 3% on $12,000 Cost of Living Increase effective July 1, 2011
- New Fund Managers: HarbourVest Partners, Constitution Capital Partners
- Next meeting: Tuesday, July 19, 2011 at 9:00 AM Weymouth Retirement Office, 807 Broad St. E. Weymouth
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The Weymouth Retirement System has filed its Annual Statement of The Financial Condition of the Weymouth Retirement Board with the Public Employee Retirment Administration Commission (PERAC). A copy of the report can be found here. |
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WEYMOUTH APPROVES NEW 3% COLA |
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The Weymouth Retirement Board met on Monday, March 28, 2011, and in a Special Election, voted to award a Cost-of-Living-Adjustment (COLA) for eligible retirees of 3% of the first $12,000 of Retirement Allowance, effective July 1, 2011. To be “eligible” for the 7/1/11 COLA, you must have been retired one calendar year as of June 30, 2011. |
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WEYMOUTH RETIREMENT BOARD NEWS SEPTEMBER 2010 |
At the August 24th meeting, the Weymouth Retirement Board voted unanimously to accept Chapter 131 of the Acts of 2010, Sections 27 & 28, approved by Town Council on September 20th and the Mayor on September 24th. Acceptance of this local option increases the benefit paid to surviving spouses of Accidental Disability Retirees who die from a cause not related to the disability for which they were retired from $6,000.00 to $9,000.00 annually beginning January 1, 2011.
Richard E. Swanson, Town Auditor, has been appointed the Ex-Officio Member of the Retirement Board effective September 1st due to the resignation of James A. Wilson. |
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WEYMOUTH RETIREMENT BOARD NEWS JULY, 2010 |
♦ According to the 2009 Investment Returns published by the Public Employee Retirement Administration Commission, the Weymouth Retirement System had a 25 Year Rate of Return of 10.11% - ranking our system the third highest in the Commonwealth. Since withdrawing from the PRIT fund in 2004, the Weymouth Retirement System has consistently out-performed the PRIT fund - earning 21.84% ROR for calendar 2009.
♦ The Retirement Board appointed Jo-Ann Anti to the position of Director effective with Marsha Silva's retirement on July 31st. Marsha has more than 32 years of public service, and held positions with the Town of Plymouth, Town of Avon, and the Plymouth Retirement system before coming to Weymouth as Retirement System Director in July of 2002. Jo-Ann has been the Assistant Director in Weymouth since October 2002, and previously worked in the Plymouth County Retirement System.
♦ The Board also appointed Jennifer Miller to the position of Assistant Director. Jennifer is currently the Director of the Hull Retirement System, and was previously Assistant Director in Braintree. Many of you will remember Jennifer’s father, James Keenan, who retired in 2001 after serving many years in public service in Weymouth, first as secretary to the Fire Chief, and a lengthy career as Weymouth’s Retirement System Director. |
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WEYMOUTH RETIREMENT BOARD MAY NEWS |
The Weymouth Retirement Board met on Tuesday, May 18, 2010.
♦ The first order of business was an ELECTION BY DECLARATION, certifying that JOSEPH DAVIS was the only candidate to be nominated for a new three year term of office, beginning July 1, 2010 and ending on June 30, 2013. Congratulations, Joe!
♦ The Board met with their investment consultant, Chris Kachmar, of Fiduciary Investment Advisors and reviewed portfolio activity for the first quarter of 2010 (January – March). The total plan returned 4.1% for the quarter, and 21.6% for Calendar 2009. The Weymouth Retirement System has consistently out-performed the State’s PRIT fund since withdrawing from that fund in June of 2004.
♦ The Board met with Lawrence Stone, Actuary, to discuss all of the factors that will be used to establish the valuation of the System as of January 1, 2010. These factors will be used to determine the funding schedule for the system going into the future. The length of what that funding schedule will be is the biggest unknown at this time. The Senate is currently debating a measure that would permit Retirement Systems to extend their funding schedules as far out as 2040, thereby providing needed financial relief to the cities and towns they serve.
The Board, in consultation with Mr. Stone, opted to delay finalization of the 1/1/10 valuation until the legislature has taken action.
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WEYMOUTH RETIREMENT BOARD MARCH NEWS |
The Weymouth Retirement Board met on Tuesday, March 23, 2010 and welcomed newly elected Board Member Richard J. Hayes.
♦ The Board interviewed four managers to fill a Private Equity Fund of Funds mandate. After receiving presentations and discussion between the Board Members, it was voted to hire Constitution Capital Partners, an Andover, Massachusetts firm, and Hamilton Lane, which is headquartered in Pennsylvania.
♦ The Board also interviewed four managers to fill an International Small Cap Equity mandate, and at the conclusion of the presentations by the fund managers, voted to hire Acadian Asset Management, a Boston firm, and William Blair & Company, also having offices in Boston.
♦ All four new managers will provide a complimentary investment to already existing funds, and there will be no terminations to fund the new mandates. A revised Asset Allocation chart will be published on this web site as soon as it is available.
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HAYES ELECTED TO RETIREMENT BOARD |
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Retired police officer Richard Hayes has been elected to fill the unexpired term of Frank Lagrotteria on the Town of Weymouth Retirement Board. The term expires on December 31, 2011.
A Weymouth resident since childhood, Hayes served as a police officer for forty years. For the last eighteen years of his career, Dick served as a fire investigator. He has been married for 43 years and is the proud father of five daughters and twelve grandchildren. Dick also has two sons-in-law serving as police detectives.
Of the total votes cast, the results were as follows:
| Helen Maloney (Retiree) Weymouth Housing Authority: |
140 |
| Kevin Dawyskiba (Retiree) Weymouth Fire Department: |
179 |
| Richard Hayes (Retiree) Weymouth Police Department: |
305 |
| Total Votes Cast: |
624 |
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