By Madeline Hughes mhughes@andovertownsman.com Apr 1, 2021
1 hr ago
The Andover Retirement Board is deciding if part-time employees will continue to be eligible for pensions from the town.
Currently, anyone working more than 20 hours a week who is a permanent employee is eligible for a pension. The proposed change would bar any future part-time employees who work 35 hours or fewer from receiving a pension.
This potential change comes at the same time voters are being asked to borrow a $185 million pension obligation bond to pay off the unfunded pension liability, which came about because of decades of paying too little into the pension system.