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A regular meeting of the Town of Hingham Contributory Retirement Board was held in the Town Hall on Thursday. December 22, 2005. Ted C. Alexiades, Eileen McCracken and Thomas P. Hall were present. Peter J. Blampied and Jean M. Montgomery were absent. The meeting was called to order by Ted C. Alexiades at 3:34 P.M.
A motion was made by Thomas P. Hall and seconded by Eileen A. McCracken to approve the minutes of the November 21, 2005 board meeting.
AYE 3-0. It was unanimously voted.
A motion was made by Eileen A. McCracken and seconded by Thomas P. Hall to approve the following retirement allowances and expenses:
Retirement Allowances (December 2005)
Annuity $ 56,261.36
Pension $ 344,491.15
Cost of Living $ 5,967.61
Dependent Allowance $ 880.94
Total Warrant #PR1205 $ 407,601.06
Retirement Expenses (December 2005)
Salaries $ 3,256.88
Office Expenses $ 1,161.89
3(8)(c) Payments $ 0.00
Refunds/Transfer $ 0.00
Total Warrant #AP1205 $ 4,418.77
AYE 3-0. It was unanimously voted.
A motion was made by Eileen A. McCracken and seconded by Thomas P. Hall to accept the following Applications for Membership:
Kate W. Richardson Accounting Dept. (Systems Analyst) November 28, 2005
Amy L. Driscoll School Dept. (Paraprofessional) December 1, 2005
Thea Y. Cosmopulos School Dept. (Paraprofessional) November 28, 2005
Christine L. Kendrick School Dept. (Paraprofessional) November 28, 2005
Cynthia A. Barrett School Dept. (Paraprofessional) November 28, 2005
Michael P. Tierney School Dept. (Bus Driver) December 2, 2005
Richard Connelly Fire Dept. (Firefighter/Paramedic) December 4, 2005
Christopher M. Melanson Fire Dept. (Firefighter/Paramedic) December 3, 2005
Sarah M. Yeaton Fire Dept. (Firefighter/Paramedic) December 5, 2005
Lauren J. Pirani School Dept. (Bus Driver) December 12, 2005
AYE 3-0. It was unanimously voted.
There were no Applications for Retirement.
There were no Applications for Withdrawal and/or Transfer of Deductions.
A motion was made by Thomas P. Hall and seconded by Eileen A. McCracken to accept the following Application for Buybacks/Make-ups:
Mary L. Craine School Dept. (Title 1 Tutor) 3 years/00 months Lump Sum
AYE 3-0. It was unanimously voted.
The Cash Flow Report through December 31, 2005 was discussed.
A motion was made by Eileen A. McCracken and seconded by Thomas P. Hall to propose the acceptance of Chapter 157 of the Acts of 2005 (Disability Retirement Benefit for Veterans). Town Meeting will vote to accept Section 1 (establishing the Disability Retirement Benefit for Veterans) and Section 2 (allowance becomes retroactive to retiree’s date of retirement) or Section 1 only. The board will ask the selectmen to reserve a slot on the town warrant.
AYE 3-0. It was unanimously voted.
The board postponed the reappointment of Peter J. Blampied to the retirement board (term expires 2/1/2006) until next month’s board meeting.
There was no Old Business.
The Monthly Account Statement and PRIT Fund performance for the period ending November 30, 2005 was discussed. The PRIT Core Fund returned 2.48% for the month of November, 6.20% fiscal year-to-date and 9.41% calendar year-to-date.
A motion was made by Thomas P. Hall and seconded by Eileen A. McCracken to adjourn the meeting at 3:50 P.M.
AYE 3-0. It was unanimously voted.
The next regular Retirement Board meeting will be held on Thursday, January 26, 2005.