The Falmouth Retirement Board has conducted a public application process for the position of Fifth Member to the Falmouth Retirement Board. As of the application deadline, by 2:00 p.m. on Wednesday, May 12, 2021, there was only one applicant – the incumbent, Ellen K. Philbin. Therefore, at its regular monthly board meeting held on May 20, 2021 with all four board members present, the Falmouth Retirement Board unanimously voted to re-appoint Ms. Philbin to the position of Fifth Member for a three-year term which is to begin on July 1, 2021 and will expire on June 30, 2024. The Falmouth Retirement Board operates in accordance with the provisions of Chapter 32 of the Massachusetts General Laws, the rules and regulations promulgated by the Public Employee Retirement Administration Commission (PERAC) as well as any rules and regulations adopted by the Falmouth Retirement Board and approved by PERAC. The Fifth Member, together with the other four members of the retirement board, are to act as fiduciaries of the Falmouth Retirement System and to perform their duties solely in the interest of its members and their beneficiaries. The Fifth Member is to be chosen by the other four members of the retirement board, and the Fifth Member shall not be an employee, a retiree or an official of the Town of Falmouth or the Falmouth Housing Authority.
