Retirement board approves 17 new members amid funding status decline
Retirement Board approves 17 new members, defers funding schedule. The board voted unanimously to accept 17 new full-time retirement plan members and processed three retirements, two transfer requests, and three refund-rollover applications at its August 25 meeting. Chair Gregory P. Brewster,
Retirement Board · Meeting of August 25, 2026
MARLBOROUGH — Retirement Board approves 17 new members, defers funding schedule. The board voted unanimously to accept 17 new full-time retirement plan members and processed three retirements, two transfer requests, and three refund-rollover applications at its August 25 meeting. Chair Gregory P.
Brewster, Members Robert K. Gustafson and William S. Taylor, and Ex-Officio Member Diane M.
Smith approved warrants totaling $1.95 million. Actuary Linda Bournival presented preliminary findings from the January 1, 2026 actuarial valuation, reporting that the Marlborough Retirement System's funding status had declined to 85.40 percent due to unfavorable demographic experience and assumption changes. City Comptroller Brian Doheny and City Councilor Michael Ossing, attending the meeting, expressed concern about the decline's impact on city finances, and the board deferred the funding schedule decision pending additional actuarial information.
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Source: the Retirement Board meeting of August 25, 2026, compiled from the official minutes.
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