Needham retirement administrator to leave; board forms hiring subcommittee

Jacob Cole, the retirement system administrator, told the Town of Needham Retirement Board on April 22 that his last day will be July 31, 2026. The board chair said she would accept his resignation and the board began planning to recruit a successor.

The move prompted an immediate planning discussion about recruitment logistics. Board members agreed to post the job in early May with a closing date at the end of the month, screen applicants in June, and aim to interview finalists in June so a new administrator could begin before Cole leaves. Staff said the position is classified as grade nine under the town system (salary table cited in the meeting) and the full grade spans roughly $74,703 to $104,576; the board discussed advertising a narrower hiring range (steps one through five, roughly $74,700–$90,156) and negotiating final starting step based on experience.

Cole told the board he was not leaving for financial reasons and said he had completed objectives he set when hired: “I fulfilled my mission that was given to me when I was hired,” he said. Board members discussed transitional coverage and agreed Cole would make himself available to help onboard the new administrator. Staff committed to provide candidates with documentation and access to current procedures and data to support a smooth transfer.

The board voted to create a hiring subcommittee to serve as the hiring managers and screen applicants, with the subcommittee authorized to narrow applicants to two or three finalists for full-board consideration. The board asked staff to post the job on the town’s website and on professional job boards (town job page, MMA, and other municipal/professional sites) and to use available salary surveys to set the posting range. The chair said she wants the board to see the job contract and classification paperwork at the May meeting and to finalize recruitment materials before posting.

The subcommittee vote was recorded by roll call and passed with affirmative votes from members present. The board asked the outgoing administrator to compile a handoff plan and agreed to revisit compensation specifics during finalist interviews.

The board expects to have a candidate in place before Cole’s departure if candidate flow allows; if not, staff and board members will ensure interim coverage so retirees continue to receive timely payments.