♦ The Retirement Board trustees have voted to hire Bradford and Marzec, and Income Research and Management, to fulfil the Fixed Income Mandate formerly administered by Fidelity Management (Pyramis). The transition should be completed for June 1st funding.

♦ HEALTH INSURANCE ENROLLMENTS: Retirees and survivors who chose to enroll in the Medicare Supplement offered by Harvard Pilgrim Health Insurance are receiving an enrollment form directly from Harvard Pilgrim in the mail. Since some of you have expressed concern, please be assured that the form is legitimate, and is required by that company. It is not necessary for enrollees to attach a copy of their Medicare Card, as long as the Medicare Number is recorded on the form, along with the current Harvard Pilgrim Medicare Enhance Number, if you have one. The enrollment form should be returned directly to Harvard Pilgrim in the yellow envelope provided with the mailing to you.

♦ The retiree payroll to be dated June 30th will be the first one with the new Health, Dental and Life Insurance deductions withheld.

WEYMOUTH RETIREMENT BOARD APRIL NEWS
• At the April meeting, the Board confirmed a vote taken in March to hire two new managers,
Bradford & Marzec and Income Research and Management. It is intended that these two firms will
oversee the Core-Plus Fixed Income assignment in the System's Portfolio. The target funding date is
June 1, 2009 at which time the contract with Pyramis Global Advisors will expire.

• Fiduciary Investment Advisors, the firm that provides Investment Consulting services to the Board has been
selected as "Retirement Plan Adviser Team of the Year" by PlanSponsor Magazine. Weymouth Retirement
Board congratulates the entire FIA team on this recognition.

• IMPORTANT GIC (HEALTH INSURANCE) ENROLLMENT:

OPEN ENROLLMENT HEALTH FAIR: May 4, 2009 11:00 a.m. to 4:00 p.m.
Weymouth High School Wildcat Way

EVERYONE MUST RE-ENROLL. The Weymouth Retirement Office will be CLOSED the day of the Enrollment Fair, but will be open from 8:30 a.m. to 4:30 p.m. Monday through Friday to assist with retiree enrollments. MAY 15TH IS THE ENROLLMENT DEADLINE.

GIC WEBSITE: www.mass.gov/gic Please see the link on the upper right hand corner of this page!

• IMPORTANT DATES FOR GIC (HEALTH INSURANCE) ENROLLMENT:

• February and March 2009 – Please gather together the information described in Michael Gallagher’s letter of February 2, 2009. This is the time for retirees to get copies of (certified) marriage certificates, divorce decrees, dependent information, and the latest 1099 from the Social Security Administration. See Page 2 of the letter, "Required Documents" for the items that pertain to you and your family.

• Booklets that describe each plan along with rate information and enrollment forms will be mailed to each retiree before the Open Enrollment Period. The Open Enrollment Period runs from April 13, 2009 through May 15, 2009.

The Weymouth Retirement Board met on Friday, January 23, 2009 and voted:

• UNANIMOUSLY to award a July 1, 2009 Cost of Living Adjustment (COLA) to eligible retirees, in the maximum amount permitted.  That amount is 3% of the first $12,000 of Retirement Allowance, or $30.00 per month.  This will be paid for the first time in the July 31st monthly benefit payment.
• When the Board meets in February, they will review performance for the close of Calendar Year 2008 with Fiduciary Investment Advisors.  The Board also expects to select fund managers for interviews regarding the recent Request for Proposals for Core-Plus Fixed Income, and also for Custodial Banking Services, if available.

December 16, 2008 Retirement Board Election

Frank Lagrotteria was re-elected, for a three year term which will expire Jan 1, 2012. Frank received 232 votes.  Kevin Dawyskiba received 137 vote and Helen Maloney, 88.

The Board has entered into agreements to invest with the following managers:

Artio Global Advisors - addition to the International Core Equity (pooled) fund in addition to State Street Global Advisors.

PENN Capital and Loomis Sayles - both additions to Domestic Equity to manage the investment for Small to Mid Cap Funds.

Westfield Capital - Large Cap manager addition to the Domestic Equity Allocation, in addition to RhumbLine (S&P 500 Index Fund) and The Boston Company.

In light of the dire economic news coming from Washington and Wall Street over the past month the Town of Weymouth Retirement Board, which is responsible for your pension, would like to ease your concerns as to how the current economic crisis impacts on your retirement benefit.

Barbara Costa, Board Chairman; Marsha Silva, Director; and Jo-Ann Anti, Assistant Director, attended the 14th Annual Client Conference of the Pension Reserves Investment Management Board (PRIM) on September 18th in Boston.  The Weymouth Board invests funds in two PRIM segments, Real Estate and Absolute Return.   The recurrent theme, despite the diversity of speakers and the varied financial disciplines they represent, was to focus on long-term results, rely on the unique capabilities and experience Board members, fund managers and consultants all bring to the table, and know that the 2028 full funding goal can best be achieved with a diversified portfolio, maximizing return, conserving capital, controlling risk.

In late August, the Board interviewed twelve firms that responded to Requests for Proposal in three different types of investment.  Fiduciary Investment Advisors, the Board’s consultant, notified Loomis Sayles and PENN Capital Management (Small-to-Mid Cap);  Artio Global Investors (International Equity); and Westfield Partners (Large Cap) that the Board is interested in placing a percentage of the portfolio with them for investment.  Final funding is subject to review and approval by PERAC, and execution of agreements satisfactory to both parties.  This move by the Board seeks to further diversity the portfolio by creating complimentary investments within each segment.

The Board met on August 15th and set the date of December 16, 2008 for an election to fill a three year term on the Retirement Board.  Frank Lagrotteria’s term will expire on January 2, 2009.  Notices will be mailed to each retiree and posted in a number of locations.  Eligibility is limited to active members and retirees of the Weymouth Contributory Retirement System.  Nomination papers will be available on September 12, 2008 at the Retirement Office.