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The board took no action on a proposed investment change that could save an estimated $30,472 annually because two union-representative members were absent. The proposal will be revisited at the November meeting when the full board is present.
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The town’s defined contribution pension plan was reviewed, and its investments, fees, cybersecurity, and policy were found to need no immediate changes. A possible move to Collective Investment Trusts could reduce costs by about $30,472 per year, but the board postponed any agreement until all members can participate. The investment policy also met its objectives, with no recommendations for changes.
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