Danvers Retirement Board approves $1 million in fund rebalancing transfers.
Danvers Retirement Board approves $1 million in rebalancing transfers and addresses member indemnification. Chair Joseph L. Collins led the board in voting unanimously to move $500,000 each from Kayne Anderson and Rhumbline Russell Growth 1000 into cash, based on Segal Marco guidance; the fund's
Retirement Board · Meeting of February 25, 2026
Danvers Retirement Board approves $1 million in rebalancing transfers and addresses member indemnification. Chair Joseph L. Collins led the board in voting unanimously to move $500,000 each from Kayne Anderson and Rhumbline Russell Growth 1000 into cash, based on Segal Marco guidance; the fund's composite market value reached $194,205,872 as of January 31 with a 13.8 percent annual return.
The board also unanimously approved three retirements, six transfers, and five new employees. Attorneys Veronica Turovsky Genin and Linda Champion flagged that the board lacks Chapter 32, Section 20A coverage for non-employee members; the board scheduled a special vote for March 5 to request town indemnification under Chapter 258.
In the full story:
- The complete report — 427 words
Source: the Retirement Board meeting of February 25, 2026, compiled from the official minutes.
Members read the rest of this story and every Danvers meeting we cover, in full.
Become a memberAlready a member? Sign inA 30-day free trial needs a payment method. After it, your membership renews at the price shown at checkout until you cancel, which you can do anytime from your account. Subscription terms
Share this brief
Know someone in Danvers who follows town government? Share Townbrief Danvers: they can sign up free.