Needham Retirement Board Votes to Launch Administrator Search as Cole Sets July Exit

NEEDHAM -- April 22, 2026, Needham Retirement Board accepts administrator resignation and launches search for replacement. The board voted unanimously Wednesday to establish a two-member hiring subcommittee, consisting of the chair and member Martin Feeney, to screen candidates for retirement administrator Jacob Cole's position after Cole announced his last day will be July 31, 2026. Cole, who has served nearly seven years, told the board his departure is unrelated to pay or board dynamics: "I've fulfilled my mission as was given to me when I was hired." The job, classified at town pay grade level nine with a salary range of $74,703 to $104,557, is expected to be posted in early May with a target hire date before Cole's departure. The board also approved a March payroll warrant of $1,371,733.29 and an April expense warrant of $227,324.57, and deferred a vote on PERAC audit overpayment findings to May pending legal review from board counsel Michael Sacco.