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The original item was published from 10/19/2020 8:31:19 AM to 10/30/2020 10:11:06 AM.

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Andover News

Posted on: September 24, 2020

[ARCHIVED] Andover Retirement Board Seeks Fifth Member

The Andover Contributory Retirement Board is seeking a Fifth Member.  In accordance with Massachusetts General Laws, Chapter 32, §20(4), the fifth member shall not be an employee, retiree or official of the Andover Contributory Retirement System or any of its member units (Town of Andover, Andover Public Schools, Andover Housing Authority).

The Andover Contributory Retirement Board (ACRB) is governed by a five-member Board, which is charged with the pension administration of its 1200+ active and retired participants.  The Retirement Board members are fiduciaries who are responsible for the investment and oversight of approximately $151 million in assets.

The Board members usually meet once per month in a conference room at the Town Offices building.  Meetings are routinely scheduled for the morning of the fourth Thursday of the month (except November and December), beginning at 8:30 AM.   Occasionally, additional meetings are scheduled.  This is a volunteer position, Retirement Board members are not paid for their time.   Day-to-day operations of the Andover Contributory Retirement System are managed by the Executive Director.  The system employs 2 full time staff (including the Executive Director) and one recording secretary.

This appointment is for a full 3-year term.  Interested candidates should be aware that, if appointed to the Retirement Board, there are requirements to submit a Statement of Financial Interest (within 30 days of appointment and annually thereafter) to the State oversight agency, the Public Employees Retirement Administration Commission (PERAC), and to complete an education program during the course of the 3-year term.  Additional information on Board member disclosure and training requirements is available on the website of the Public Employees Retirement Administration Commission (PERAC) located at https://www.mass.gov/orgs/public-employee-retirement-administration-commission.

Interested candidates should forward their cover letter and résumé via email to Elena M. Kothman, Executive Director, at elena.kothman@andoverma.us.  Candidates should be aware cover letters and résumés will be reviewed by the Board in open session at an upcoming public meeting.  Also, additional information about the Andover Contributory Retirement system can be found on the system’s website, www.andovermaretirement.com.

 

Cover letter and résumés are due by Friday, November 6, 2020.

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