The Danvers Retirement Board approved five retirements and three new hires as the pension system's investment portfolio posted year-to-date gains of 6.3 percent.
Danvers Retirement Board adopted funding schedule preserving 2035 full funding goal. The board unanimously approved an actuarial valuation showing 67.1 percent funded status, up from 64.5 percent in 2024, and chose Schedule A-2, capping annual appropriation increases at 9.71 percent while
Danvers Retirement Board voted to approve a 3 percent cost-of-living adjustment on the $14,000 pension base, the first official COLA vote after months of prior discussion. The board also unanimously accepted a new Athletic Trainer position into the town retirement system; School Superintendent Dan
Danvers Retirement Board withdrew $500,000 from its Kayne Anderson fund, citing year-over-year underperformance. Investment advisor Rafik Ghazarian of Segal Marco recommended the systematic drawdown to gradually reduce exposure. In a 3-2 vote, the board terminated its special legal counsel
Danvers Retirement Board recorded $8.1 million in portfolio losses during March amid global market volatility. Investment manager Rafik Ghazarian of Segal Marco advised the board to hold current investment positions while drawing down $1 million from a fixed-income account for operational cash
Danvers Retirement Board rebalances $193.6M portfolio and approves new school position. The board unanimously adopted a revised Investment Policy Statement increasing International Equity and Core Fixed Income allocations while trimming Real Estate Core, a recommendation from Segal Marco Investment
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
Danvers Retirement Board approves $23.3M portfolio gain and three legal contracts. Segal Marco Investment Manager Rafik Ghazarian reported a 2025 net investment return of $23,318,976, or 13.8 percent year-to-date, outpacing the PRIT benchmark of 12 percent. The board unanimously approved three
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
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