The Portsmouth Supplemental Retirement Board convened on November 2, 2023, with a focus on the OPEB trust benefits, revealing a current fund balance of $8.3 million. Despite a challenging market, the fund has seen an unrealized loss of $265,000 for September, totaling $232,000 for the year. However, since its inception, the fund has gained $1.3 million, indicating a positive long-term trajectory.

During the meeting, board members discussed the contributions to the fund, which are based on actual reports, with a current annual contribution of $1.5 million. While specific liability figures were not immediately available, it was confirmed that the board is on track with its financial obligations.

After establishing a quorum, the board approved minutes from previous meetings held on May 4 and August 3. The session also included a presentation from Greystone, with Jim Whitney discussing market conditions and portfolio performance. Whitney noted that the last quarter was particularly tough, setting the stage for a deeper analysis of the fund's performance in the upcoming meetings.

The discussions highlighted the board's commitment to maintaining transparency and accountability in managing retirement benefits, ensuring that members are informed about the fund's status and future outlook.