Retirement Board approves Stone Consulting contract, authorizes pension buyback.
Gardner Contributory Retirement Board approves Stone Consulting actuarial contract and pension buyback. Chairperson Denise M. Merriam and the five-member board voted unanimously to award a seven-year actuarial services agreement to Stone Consulting Inc. at $110,250 total through December 31, 2032,
Retirement Board · Meeting of May 26, 2026
Gardner Contributory Retirement Board approves Stone Consulting actuarial contract and pension buyback. Chairperson Denise M. Merriam and the five-member board voted unanimously to award a seven-year actuarial services agreement to Stone Consulting Inc. at $110,250 total through December 31, 2032, selecting the Massachusetts firm over KMS Actuaries LLC based on higher evaluation scores.
The board also unanimously approved a $55,745.34 service buyback for Lauren Saunders, Director of the Board of Health, allowing her to repurchase 6 years and 10 months of previously refunded creditable service. In board elections, Merriam and Robert W. Newton advanced to three-year terms via "Election by Declaration" after only the two incumbents filed nomination paperwork by the May 8 deadline.
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Source: the Retirement Board meeting of May 26, 2026, compiled from the official minutes.
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