The Weymouth Retirement Board met on Tuesday, February 23, 2010, 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, 2010. To be "eligible" for the 7/1/10 COLA, you must have been retired one calendar year as of June 30, 2010.

• Three candidates are running campaigns for the balance of the term which had been filled by the late Frank Lagrotteria. All retirees should have received their ballots in the mail by now. Please return them to the Retirement Office by March 9th .

Normal.dotm 0 0 1 181 1034 Old Colony Group 8 2 1269 12.0 0 false 18 pt 18 pt 0 0 false false false The Weymouth Retirement Board met on Tuesday, January 19, 2010 and voted:

• To hold a Special Meeting for the 2010 Cost-of-Living-Adjustment (COLA) election at their February meeting. Provided the Board votes to award a 2010 COLA, eligible retirees would receive an increase of up to 3% of the first $12,000 of Retirement Allowance effective July 1, 2010.

• To adopt an election calendar for a June 2010 election. Joe Davis' current term will expire on June 30, 2010. The Board named Marsha Silva as the Election Officer. This is a three-year term which will run from July 1, 2010 through June 30, 2013.

• To date, there are four candidates for the balance of the term which had been filled by the late Frank Lagrotteria. Ballots will be mailed to all retirees during the first week in February. The election hours at the Retirement Office will be 8:00 a.m. to 6:00 p.m. on March 9^th for active employees to cast their vote. Information regarding absentee ballots will be forwarded to each department.

All retirees have, by now, received their 1099R forms for Calendar 2009.  December 31, 2009 Direct Deposit and check stubs were mailed to every person receiving a taxable benefit, and provided year-to-date insurance premium information.

Retirees! Please make sure the Retirement Office has your "winter" address if you are leaving for warmer locations and will be away during February/March.

♦  All retirees who receive their monthly payment via direct deposit will receive a deposit notice at the end of December.  This will provide you with your year-to-date health and dental insurance deductions.  1099Rs will be mailed before the end of January.

Direct deposit - funds are immediately available at your bank on payday.  No need to wait for the Postman to arrive, or wonder if holiday mails are going to delay delivery of your check. Best of all, if you are away from home, no worries about your check being forwarded, or asking family or friends to make a trip to the bank for you, just to deposit your check. Call the Retirement Office for an enrollment form today!

♦  At the December meeting, the Board voted to request Fiduciary Investments Advisors to issue a Request for Proposals for International Small Cap Equity, and also RFPs for Private Equity investments.  These are not replacements, but intended to compliment the diversity of funds in which the Board is already invested.

If more than one candidate returns nomination papers, properly signed by no less than twenty members of the System, then the election will be held on March 9, 2010.

♦ Active members of the system who are unable to vote at the Retirement Board Office on Election Day may file a written request for an Absentee Ballot. Absentee Ballot instructions will be provided to each workplace once it is determined that there is more than one candidate for the vacancy.

On October 26^th, the Board conducted annual interviews with all but the two newest Fixed Income managers.  Bradford & Marzec and Income Research and Management will be in to meet with the Board later in the winter, after they have a few more months of management on which to report.  Results for the other managers are positive for the year to date, with the exception of real estate sectors, which are slower to recover.  Please see the updated Asset Allocation for the System on the "Pension Assets" page of this web site.

♦   State Street Global Advisors' International Equity Fund has undergone some changes in personnel, administration and style, and the Board asked FIA to issue an International Large-Cap Equity RFP to find a second International manager to compliment Artio Global.  Artio was hired this past winter to manage about 50% of the International mandate, or approximately $6.5 million.  After interviewing six fund managers, the Board voted to hire Earnest Partners to replace State Street Global Advisors.   Contracts will be executed and funds transferred during September/October.

♦ 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.