Andover to consider changes to pension : vimarsana.com

Andover to consider changes to pension


By Madeline Hughes mhughes@andovertownsman.com
Apr 1, 2021
1 hr ago
The Andover Retirement Board is deciding if part-time employees will continue to be eligible for pensions from the town.
Currently, anyone working more than 20 hours a week who is a permanent employee is eligible for a pension. The proposed change would bar any future part-time employees who work 35 hours or fewer from receiving a pension.
This potential change comes at the same time voters are being asked to borrow a $185 million pension obligation bond to pay off the unfunded pension liability, which came about because of decades of paying too little into the pension system.

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