January Weymouth Retirement News

The Board voted to hire Fiduciary Investment Advisors to provide investment consulting services beginning February 1, 2008. The Board signed a three-year contract with the firm, having previously conducted an on-site due diligence inspection of their offices. The Board will soon receive an in-depth review of the existing portfolio along with recommendations to enhance the outstanding performance experienced since withdrawal from the PRIT fund in 2004.

1099R’s were mailed to retirees in early January. If additional copies are needed due to lost or misplaced 1099R’s, please contact the Retirement Office.
Annual Statements will be distributed to our members in February.

The Board notified the Weymouth Town Council that they will vote to set the July 1, 2008Cost-of-living adjustment (COLA) for eligible retirees during a March meeting. The Board has historically elected to set the COLA at the maximum amount allowed by law, which is 3% on the first $12,000 of Annual Retirement Allowance. We hope you have noticed the new design of our Web Site. We are receiving questions and e-mails regularly through the “Contact Us” option on the home page. Your comments and questions are always welcome, whether you choose to e-mail, telephone or visit us at 807 Broad Street in Jackson Square.