Belmont Contributory Retirement Board backed 2026 actuarial valuation showing strong progress toward full funding. The system's unfunded liabilities dropped to $41.7 million from $53.6 million in 2024, with the funding ratio improving from 76.11 percent to 82.3 percent, according to Segal
The Belmont Contributory Retirement Board voted unanimously to approve a comprehensive consent agenda at its June 29 meeting that included the retirement of Assistant Executive Director Joseph M. Martin, effective October 13 after 10.08 years of service, along with three school department staff
Belmont Contributory Retirement Board withdraws COLA base increase from warrant.
The Belmont Contributory Retirement Board unanimously voted to post its director position as Joseph Martin plans fall retirement. The board will advertise on the PERAC Website and through Massachusetts Municipal Accounting, Auditors and Accountants, and Treasurers and Collectors websites to allow
Belmont's Contributory Retirement Board conditionally approved a deferred-cost COLA benefit funding plan. The board voted to adopt Option #3, which reduces the fiscal 2027 appropriation to $11.8 million and extends the full funding date to fiscal 2032, contingent on Town Meeting approval of Article
Belmont Retirement Board approves 3 percent COLA increase for qualifying retirees. The board voted unanimously to grant a 3 percent Cost-of-Living Adjustment on the first $13,000 of retirement allowances, effective July 1, 2026. Board Chair Thomas Gibson led a separate unanimous vote to increase
The Belmont Contributory Retirement Board selects new legal counsel in RFP decision. The Board voted 4-1 to hire attorney Kathleen Kiely-Becchetti of KKB Law Group as primary counsel, with attorneys Michael Sacco and Katherine Hesse retained as backup, citing Kiely-Becchetti's lower fees and 32
Belmont retirement board names investment consultant and restores town treasurer and accountant stipends. The Belmont Contributory Retirement Board appointed NEPC as its investment consultant and authorized $1,500 annual statutory stipends each to the town treasurer and accountant, effective
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