Retirement Board awards actuary contract to KMS; splits legal counsel between two firms.
Retirement Board · Meeting of January 7, 2026
Danvers Retirement Board awards actuary contract to KMS and approves hybrid legal counsel arrangement. The board unanimously selected KMS as its actuary vendor without interviews, finding it superior to two competitors. A contentious legal-services vote split the five-member board: Vincent Malgeri and Dana M.
Hagan voted to award the contract to Sacco & Collins, citing Chapter 32 experience gaps and conflict-of-interest concerns with incumbent Murphy, Hesse, Toomey & Lehane, which also serves as Town Counsel. Rodney Conley, Joseph L. Collins, and Heather Russo prevailed, selecting Murphy Hesse by unanimous vote.
The board then unanimously designated Sacco & Collins as Special Counsel for any cases where Murphy Hesse conflicts. The board also unanimously approved a $12,833,016 FY 27 budget and promoted Retirement Administrator Cory Grace to Grade 17, and recorded a net investment gain of $21,633,558.
In the full story:
- The complete report — 540 words
Source: the Retirement Board meeting of January 7, 2026, reported from the official video recording and transcript.
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