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Board notes drop in funded status after delayed contribution; approves prior meeting minutes
Summary
John Hancock reported the plan—s funded ratio fell as of March because the usual annual contribution had not been made; the board approved minutes from prior meetings by voice vote.
A John Hancock representative told the Portsmouth Retirement Board that the plan—s funded status fell in the quarter largely because the typical annual contribution had not been received as of March: "This is entirely due to the fact that the, the annual contribution to the plan, which we usually see in February, had still not been funded, as of the March." The representative reported funding rates around 68.8% for the fire and police plan and about…
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