Assessment numbers for FY2021 are available

Posted on December 31, 2019 by Dale Kowacki

The official assessment letters will be mailed this first week of January, and in the meantime you can see all the numbers, analysis, and explanation in these three documents:

FY2021 Appropriation Calculation By Unit
FY2021 Assessments Explained
FY2021 Assessment Changes Analysis
 
More information about the process, and data from prior years can be found on the webpage:
 
https://frrsma.com/appropriationsassessments-and-actuarial-valuations/
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November 2019 Regular Board Meeting Minutes Uploaded

Posted on December 19, 2019 by Staff

The minutes of the November 26, 2019 Board meeting have been uploaded to the 2019 minutes page. Click here to view.

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Agenda for the Wednesday, December 18, 2019 Regular Board Meeting has been uploaded.

Posted on December 11, 2019 by Staff

The Agenda for the Wednesday, December 18, 2019 Regular Board meeting has been uploaded.  Click here to view.

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Office closed Monday, December 2, 2019 due to inclement weather.

Posted on December 2, 2019 by Dale Kowacki

The office is closed Monday, December 2, 2019 due to the inclement weather, and will reopen on Tuesday, December 3, 2019.

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October 2019 Regular Board Meeting Minutes Uploaded

Posted on November 27, 2019 by Staff

The minutes of the October 30, 2019 Board meeting have been uploaded to the 2019 minutes page. Click here to view.

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Agenda for the November 26, 2019 Regular Board Meeting has been uploaded.

Posted on November 19, 2019 by Staff

The Agenda for the Wednesday, December 18, 2019 Regular Board meeting has been uploaded.  Click here to view.

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September 2019 Regular Board Meeting Minutes Uploaded

Posted on October 31, 2019 by Staff

The minutes of the September 25, 2019 Board meeting have been uploaded to the 2019 minutes page. Click here to view.

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Agenda for the Wednesday, October 30, 2019 regular board meeting has been uploaded.

Posted on October 23, 2019 by Staff

The Agenda for the Wednesday, October 30, 2019 Regular Board meeting has been uploaded.  Click here to view.

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Auditor chosen for 7-year engagement through June 2026

Posted on September 26, 2019 by Dale Kowacki

The Franklin Regional Retirement Board members met on Wednesday, September 25, 2019 to compare evaluation notes and voted to offer the contract to Powers & Sullivan because they not only had the most, relevant experience, but also the second lowest total cost.  The 7-year period will encompass seven annual financial audits (2019 – 2025).

Melanson Heath has been the Board’s auditor since 2007, and the Board greatly appreciates the fine work they have done over the years.

Copies of most recent audits can be found at:
https://frrsma.com/annual-statements-and-audits/

The main evaluation results:

  • Powers & Sullivan – $129,500     38 MA retirement clients, 4 that were “counties”
  • Melanson Heath – 140,000          16 MA retirement clients, 2 that were “counties”
  • Roselli, Clark – 125,000                12 MA retirement clients, no counties
  • Lynch Marini – 155,750                   4 MA retirement clients, (1 curr., 3 rec. past)
  • Marcum – 172,050                           no MA retirement clients
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Actuary chosen for 7-year engagement through June 2026

Posted on September 26, 2019 by Dale Kowacki

The Franklin Regional Retirement Board members met on Wednesday, September 25, 2019 to compare evaluation notes and voted to offer the contract to KMS Actuaries because they offered the lowest total price as well as technical prowess equally as good as the competition. KMS Actuaries has been the Board’s actuary since 2014, and the Board looks forward to the next seven years of continuing good service. The 7-year period will encompass four bienniel valuations, and seven annual GASB 67 reports.

Copies of most recent valuations can be found at: https://frrsma.com/appropriationsassessments-and-actuarial-valuations/

The price proposals:

  • KMS Actuaries – $86,500
  • Stone Consulting – 99,350
  • Segal Consulting – 128,000
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