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Board reviewed first-quarter investment performance, introduced a prospective board member, approved meeting minutes and one monthly retirement benefit, and discussed pending pension plan revisions.
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The board heard an investment update showing the pension fund had gains and adequate cash for payments, though one small-cap strategy is on watch because of staff changes. The board approved a monthly pension payment of $704.89 for Carol Paterson (a School Secretary) beginning July 1, 2026, to be paid as a Modified Cash Refund Annuity (a type of retirement payment that returns remaining funds to beneficiaries if the retiree dies). Plan revisions are nearly complete and will be discussed further with counsel.
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