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Needham retirement board votes to move $7 million into PRIM investments
Summary
The Town of Needham Retirement Board voted unanimously to transfer $7 million from bank accounts into PRIM investments after a discussion about maintaining an operating buffer; staff will send a memo to the treasurer to effect the transfer before the March meeting.
The Town of Needham Retirement Board voted Feb. 18 to transfer $7,000,000 from its TD Bank accounts into PRIM investment accounts.
Mister Murrells moved “We transfer $7,000,000 from the TD accounts to PRIM for investment purposes,” and mister Steeves seconded; the motion passed by roll-call vote with all members present voting yes. Chair and staff said they will ask the town treasurer to complete the…
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