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The board approved moving its Vanguard International Index account into a lower-cost fee tier after the balance exceeded $5 million, reducing fees by 3 basis points while keeping the same investments. The pension portfolio returned 13.58% for the calendar year and 1.9% in the fourth quarter.
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The account will keep the same investments but pay lower fees, which reduces pension plan expenses. The investment adviser reported that the portfolio was within its target asset ranges, so no broader allocation changes were needed. The board also approved an actuarial calculation for Lt. Hadfield’s EDRO, invoice payments, and its 2026 meeting schedule.
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