Andover Retirement Board Ratifies Revised Bank Transfers
Andover Contributory Retirement Board retroactively approves transfers after a bank mix-up.
Other Committee · Meeting of September 24, 2026
Andover Contributory Retirement Board retroactively approves transfers after a bank mix-up. Staff member Derek told the board the town's appropriation landed in the wrong account, forcing him to pull $1.4 million from the PRIT cash account to cover August retiree payroll before transferring roughly $8.3 million to correct it. The board unanimously approved all six resulting transfers, September expenses of $617,576.45, and intent-to-retire filings for Christopher A.
Clemente and Leah Tremblay, each with 35 years of creditable service. Staff member Sarah said rising NSEPRS dues, now $630 for 2027 after $315 in 2025, were "hard to justify" without wider board use, and the board agreed not to renew.
In the full story:
- Who Was There
- Organizations And Documents Referenced
- The complete report — 1,687 words
Source: the Other Committee meeting of September 24, 2026, reported from the official video recording and transcript.
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