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Andover News

Posted on: May 4, 2021

Town of Andover Seeks Candidates for Investment Committee

The Town of Andover is establishing an Investment Committee to advise the Retirement Board, town administration, and other town boards on the feasibility of pension obligation bonds, investment decisions, stress testing, and asset allocation related to and following the town’s potential issuance of pension obligation bonds.  

The Investment Committee will:

  • Evaluate the feasibility of the issuance of pension obligation bonds through market analysis, stress testing, and other evaluative measures;
  • Make recommendations to the town regarding whether or not to issue a pension obligation bond; 
  • Upon any issuance of a pension obligation bond, serve as advisors to the Retirement Board on asset allocation and investment decisions; 
  • Establish investment objectives and guidelines, perform stress testing, and monitor performance of assets;
  • Work with the Retirement Board, the Town of Andover, the board’s actuary, and investment consultants on setting the long-term rate of return for the retirement system.

Composition of Committee

The Investment Committee will be composed of five Andover residents with professional backgrounds in investment and financial services. Residents who have professional designations or certifications including Chartered Financial Analyst, Certified Financial Planner, or any other relevant designations or certifications are encouraged to apply. 

Submit Interest in Serving

To be considered as a candidate to serve on the Investment Committee, please complete a Talent Bank Form by visiting www.andoverma.gov/volunteer.  Applications will be accepted until 4:30 PM on May 18th. 

For questions about the committee, please contact the Town Manager's Office by emailing manager@andoverma.gov or by calling (978) 623-8210.



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