| July News |
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The retirees and members of the Weymouth Retirement System responded to the Board’s e-mails and letters, and voiced their opposition to the Governor’s proposals regarding take over of local Retirement System assets by the State’s Pension Reserve Investment Trust. Yet, we must report that the measures were recently passed by the House and Senate as Chapter 68 of the Acts of 2007.
As reported to you previously, the conservative asset allocation practiced by the Weymouth Retirement Board members has served the System well. As August approaches, the Board will perform a thorough annual review of each asset class and each fund manager within that class. Please visit the “Fund Managers” page on this web site for more information. Qualified retirees and survivors received a 3% cost-of-living adjustment in the July 31st benefit payment. The Weymouth Retirement Board has consistently voted to award the highest possible “COLA” since that responsibility was shifted from the State to the local boards in 1998. The current maximum base allowable is $12,000 annually. |