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Danvers Retirement Board signs actuarial and legal contracts, approves new members and refunds
Summary
The Danvers Retirement Board unanimously approved an engagement with KMS Actuarial, renewed legal service agreements with Murphy, Hesse, Toomey & Lehane and Sacco & Collins, accepted new member enrollments and approved refunds and payroll items at its Jan. 28 meeting.
The Danvers Retirement Board on Jan. 28 unanimously approved several administrative and governance items, including an engagement with KMS Actuarial and renewals of legal services agreements.
Retirement Administrator Cory Grace provided PERAC memos and discussed an upcoming directors-and-administrators roundtable-style conference she would like to attend if the board approves swapping it with the Springfield conference. The board asked for a conference agenda before approving the substitution.
Vincent "Vinny" Malgeri characterized the legal contracts as short and standard. The board approved the Engagement Agreement for KMS Actuarial, LLC and authorized Chair Joseph Collins to execute it (motion moved by Vincent Malgeri; seconded by Rodney Conley). The board also approved the Legal Services Agreement with Murphy, Hesse, Toomey & Lehane and the Engagement Contract for Sacco & Collins, PC (motions moved by Vincent Malgeri; seconders recorded) to serve as primary and secondary counsel, respectively.
The board accepted newly enrolled members (Autumn Bradley; Stavroula Karvelas; Timothy Salvo Jr.; Robert Silva) and approved refunds: a $3,200.09 direct refund to Stephanie Chiulli-Guillemette (with $800.02 to the IRS) and a $6,778.43 rollover to an IRA for Pamela Hutchison. The board also approved the January payroll of $1,306,969.40 and January expenses of $309,640.13, and voted to accept the minutes of the Jan. 7, 2026 meeting.
During later discussion the board agreed that issues raising possible conflicts with the legal firm will be brought to the board for review and a vote to determine if special counsel is required. Board member Rodney Conley asked Administrator Grace to contact Murphy, Hesse, Toomey & Lehane to request that "Katherine" attend the February meeting to discuss cybersecurity and indemnification policies and coverage. The board voted to adjourn and set its next meeting for Feb. 25, 2026.
