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 Weymouth Retirement System has received a commendation from the Public Employee Retirement Administration Commission (PERAC) for “exemplary operation” for the audit period January 1, 2003 through December 31, 2005.  Board members and the staff are pleased with this recognition.
We want to remind you that the office will be closed on Monday, October 13th.  October retirement allowance checks should be mailed from Town Hall on October 29th, with the pay date for both checks and direct deposits on Friday, October 31st.   DIRECT DEPOSIT – guarantees your monthly payment is received on time – no waiting for the mailman, especially with the holidays approaching.  Call the office to make arrangements today!