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Retirement board asks finance committee to raise contributory base to $20,000; committee approves
Finance Committee, Town of Needham · March 5, 2026
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Summary
The finance committee approved the retirement board's recommendation to raise the contributory retirement base from $18,000 to $20,000; town accountant Michelle Mallacott said it affects 488 retirees and discussed an estimated net annual cost (discussed at roughly $60,060).
The Needham Finance Committee approved a retirement-board proposal to raise the contributory retirement base from $18,000 to $20,000.
Michelle Mallacott, town accountant and chair of the retirement board, explained that the change would apply the annual…
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