Jul 16, 2020BoardMeeting
BoardRetirement Benefits Advisory Committee Meeting Minutes
The committee reviewed financial reports including bond funds in the pension plan, quarterly performance, and asset allocation. Plans were discussed for the Town to offer a Roth option within the pension plan. The committee determined that the Town and Board of Education have a fiduciary responsibility regarding 403(b) plans to review costs and improve transparency. Other discussions included the potential re-evaluation of retirement stipends for the First Selectman, the appointment of a liaison to Mass Mutual, and scheduling a recurring annual presentation of committee updates to other governing bodies.