Pension board approves investigation

The Firefighters' Pension Board approved a $50,000 investigation at its meeting Dec. 13.

The investigation, conducted by Benchmark Financial Services, will include an examination into the suspicion that the town has held improper meetings with pension board actuary firm Foster & Foster.

The firefighters approved the Benchmark investigation by a 3-2 vote. Key residents and board members Shannon Gault and Gerald Feder voted against the contract.

The board approved a separate contract by a 4-1 vote to hire actuary firm Segal Co. to research the firm’s actuarial decisions since the plan’s inception. Only Gault voted against the $15,000 contract.

For more information, pick up a copy of the Dec. 16 edition of The Longboat Observer.

Contact Kurt Schultheis at [email protected].