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Suffield Retirement Commission roundup: OPEB status, old-business discussion on Guaranteed Fund, and votes at a glance
Summary
At its Feb. 19 meeting the commission noted OPEB funding of 96.2% (July 1, 2024), discussed moving the Guaranteed Fund to a short-term bond fund (no action recorded), and approved routine minutes and adjournment motions; next meeting set for May 14, 2026.
The Suffield Retirement Commission held a regular meeting Feb. 19, 2026. Commissioners approved the minutes of the Nov. 13, 2025 meeting by a 6'9 vote and adjourned at 6:40 p.m. The commission also recorded that the town's OPEB plan was 96.2% funded as of July 1, 2024.
Under old business, Michael Lepore of Focus Partners discussed the possibility of moving the Guaranteed Fund into a Short-Term Bond Fund; the item was discussed but no motion or vote on that change is recorded in the minutes. The commission scheduled its next regular meeting for May 14, 2026, at 5:00 p.m.
Votes at a glance: Accept Nov. 13, 2025 minutes (Mercik moved; Innes seconded) ' passed 6'9. Adopt mortality table and accept experience-study recommendations (Mercik moved; Innes seconded) ' passed 6'9. Approve $1.1M transfer from international equities (Mercik moved; Innes seconded) ' passed 6'9. Accept Investment Policy Statement red-lines (Mercik moved; Innes seconded) ' passed 6'9. Adjourn (Mercik moved; Innes seconded) ' passed 6'9.
What happens next: staff and consultants will implement the approved investment transfer and update the IPS; valuation and actuarial updates will be incorporated into budget planning for FY 26/27.
