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The board received a first-quarter investment review noting continued actuarial gains and adequate cash, approved the March 17, 2025 minutes, and approved a monthly retirement benefit for a town employee; plan revisions are near finalization and one small-cap strategy was placed on watch.
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The town’s retirement board heard that the pension portfolio has shown gains and has enough cash to meet upcoming payments, which helps the plan’s overall financial health (funded status = how much of the plan’s obligations are covered). The board approved a monthly pension payment of $704.89 for a retiring school secretary starting July 1, 2026, using a Modified Cash Refund Annuity (a payout that pays a monthly benefit and refunds remaining balance to beneficiaries if the retiree dies). Ongoing plan updates and a review of a small-cap manager will be discussed further at the next meeting.
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