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Pension committee reviews new members, legal expense and fund value at Sept. 9 meeting
Summary
The New Canaan pension committee recorded five new plan members, heard a $3,874.50 legal invoice that did not require approval, and noted the fund’s market value rose to $188.3 million.
The Funded Retirement Plan pension committee for the Town of New Canaan reviewed administrative items at its Sept. 9 meeting, recording five new members, noting a legal invoice under the committee’s approval threshold and reporting the plan’s market value. Staff reported five new Board of Education members: Katrina Diaz (custodian, Aug. 4, 2025), Danielle Sebelia (administrative assistant, Aug. 26, 2025), Suzanne Del Carmine (administrative assistant, Aug. 26, 2025), Johanna Araspey (food services, Aug. 19, 2025) and Michelle Kane (administrative assistant, Sept. 22, 2025). No deceased members were reported. The committee reviewed a $3,874.50 invoice from Reed & Reed (legal counsel) for work on a qualified domestic relations order (QDRO) analysis and finalizing summary plan documents. The staff noted that plan expenses under $5,000 do not require committee approval, so no formal motion was taken for that invoice. On the fund’s market value, staff reported a balance of $188,335,396.20, an increase of about $1 million from the prior meeting’s reported value. A motion to adjourn was moved and seconded and recorded as unanimous by members present.
