Latest News
Davis Relected To Retirement Board

Please be advised that at the meeting of the Weymouth Retirement Board held on Monday, May 20, 2013, the Board determined that Joseph Davis was the only candidate nominated for the (second) elected member position on the Weymouth Retirement Board.
 
Therefore, it was voted to declare Joseph Davis to be an elected member of the Weymouth Retirement Board in accordance with M.G.L. Chapter 32, 840 CMR 7.00.  His term will commence on July 1, 2013 and expire on June 30, 2016.

 
Weymouth Approves 3% COLA Increase

The Weymouth Retirement Board has approved a 3% Cost of Living Adjustment (COLA) to take effect on July 1, 2013 for eligible retirees and survivors. The COLA increase will be applied to the first $12,000 of a retirees pension.

 
NOTICE OF ELECTION

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 July 1, 2013 through June 30, 2016, will be held on June 18, 2013.  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, June 18, 2013 to be counted.  Completed and returned ballots will be counted on June 18, 2013 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. May 3, 2013 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 June 18, 2013 may make a written request to the election officer for an absentee ballot.

 
WEYMOUTH RETIREMENT BOARD NEWS JULY

AUGUST 2012

On November 18, 2011, Governor Patrick signed into law Chapter 176 of the Acts of 2011, "An Act Providing for Pension Reform and Benefit Modernization". The new law includes provisions dealing with governance of Boards and Retirement Systems and other provisions which impact the pension benefit structure. The details of the new law can be found on the Public Employee Retirement Administration Commission website @ www.mass.gov/perac under 20ll PERAC Memos #35 & #36.

 
Announcement of Election Results

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

Richard Swanson

Retiree, Town Auditor 32
Total Votes Cast 439

 
NOTICE OF ELECTION

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.

 
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
 
2010 Annual Statement
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.
 
WEYMOUTH APPROVES NEW 3% COLA
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.
 
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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