Needham Retirement Board votes to take up assistant's pay raise in June

Other Committee · Meeting of May 21, 2026

Needham Retirement Board schedules June executive session on assistant administrator's retroactive pay request. The board voted 4-1 at its May 21 meeting to place a cost-of-living increase of $4,812.80 for Assistant Retirement Administrator Marty Feeney on the June 17 agenda, covering seven years without a raise. Board member Bob Merles made the motion after Chair Michelle Ballenboy had removed the item from May's agenda, with Tatiana Swanson casting the sole no vote.

The board also approved an April payroll warrant of $1,368,001.03 and an accounts payable warrant of $125,156.86, and Retirement Administrator Jacob Cole flagged a $195,000 investment management fee in March, more than double February's figure, telling the board, "there's 195,000 that nobody ever even mentioned." A second executive session on cyber insurance proposals from Leiden and Murphy and MIIA is also set for June 17, and a PERAC audit report is expected by month's end.

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Source: the Other Committee meeting of May 21, 2026, reported from the official video recording and transcript.