Needham Retirement Board approves warrants, presses staff on duplicate bill

Other Committee · Meeting of March 25, 2026

Needham Retirement Board approves $266,837.97 warrant, presses staff on a duplicate $9,450 payment. Chair Michelle Valancourt questioned staff member Jacob Cole over whether a duplicate KMS invoice had been double-accrued in the board's books as outside auditor CBiz works through this year's review, asking, "did you and or Marty accrue for that for calendar year 25?" Board member Bob Murls estimated the roughly $280 million pension fund had lost close to "14 million, I think" in value amid a market downturn since January's statement. The board also approved a $1,375,581.08 gross payroll warrant, learned incoming town treasurer Heath Utter starts June 1, and recessed into executive session to discuss cybersecurity with the town's insurer, the Massachusetts Interlocal Insurance Agency.

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Source: the Other Committee meeting of March 25, 2026, reported from the official video recording and transcript.