City Clerk

CITY OF MARLBOROUGH MEETING POSTING. 7 RECEIVE CITY CLERK’: DFFICE Name: Other Post Employment Benefits (OPEB) Meeting CITY OF MAR Qe L 20ROUGH Date: Friday, October 10, 2025 Time: 11:00 AM 2025 0CT -6 AM 7:31 Location: City Hall, 140 Main Street, Memorial Hall Conference Room, 3rd Floor 1. Vote: Approve October 24, 2024, minutes — M. Ossing 2. Board of Trustees Organization e Recognize Comptroller Brian Doheny to the OPEB Trustees effective March 31, 2025 e The Mayor re-appointed Al Weaver to the OPEB Trust Board in a letter to the City Council dated June 5, 2025. The three-year term expires March 10, 2028. e The two-year Council appointment for M. Ossing expires November 13, 2025. e Elect Chair and Secretary for OPEB Trust 3. FY25 Investment Summary — M. Ossing e The transfer of $550,000 from the FY25 budget and $1,911,288.80 from Undesignated Funds (10% of FY25 Free Cash) to Bartholomew was made in November 2024. The transfers in the amount of $307,661.10 (2,461,288.80 divided by 8 months) each month to be invested in the OPEB portfolio is complete for FY25. 4. FY25 Performance and September 2025 Update — Bartholomew 5. FY26 Investments — M. Ossing e FY26 Budget has a line item to fund OPEB by $600,000. e FY25 Free Cash Transfer $795,143.80 (approved by City Council 9/22/25) 6. Annual OPEB Trust Performance letter to the City Council per Article 13 — B. Doheny 7. Timeline for next actuarial study e Incorporate Retirement Board Actuarial Study that moves Pension fully funded date into 2029 8. Discuss next meeting date e Next meeting in the late summer 2026 timeframe. Per order of: Chair Ossing