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The board unanimously approved the Concord Retirement System’s 2025 Annual Statement and a legal counsel-drafted response to concerns about board operations, compensation, reimbursements, tax compliance, and transparency. It also discussed the need for more suitable office space but took no vote on a lease or relocation.
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The approved annual statement is the retirement system’s yearly financial report; the minutes note that an apparent negative balance reflected a bookkeeping issue rather than an actual funding deficit. The board will seek tax advice about lodging and other expenses and sent a response addressing concerns raised about its practices. The current office may be too small for meetings and records, so the board will continue exploring lease options and report back in May.
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