Suffield Board of Finance lowers stock share in retiree benefits and capital funds
Board votes to cut OPEB equity target to 52.5% and move capital reserve fund out of stocks
SUFFIELD - The Suffield Board of Finance voted on Oct. 13 to lower the stock share of the town's OPEB fund, which covers retiree benefits other than pensions, according to draft minutes of the meeting. The board changed the fund's target from 60% stocks and 40% fixed income to 52.5% and 47.5%.
The minutes say members agreed to reduce risk because the plan's liability is fully funded and fixed-income rates have risen significantly.
In a second vote, the board cut the equity portion of the town's CNRE fund to 0%, with the possibility of a portfolio split evenly between corporate bonds and U.S. Treasuries at the bond manager's discretion. The minutes say the fund is likely to be nearly fully used over the next five to seven years for upcoming capital projects.
The board also left the Cemetery Fund's allocation unchanged while rebalancing it, noting the fund has earned $560,550 since it began in 2022, and voted to approve fiscal 2025-26 budget transfers. Two alternates were seated for two absent members.
Source: Town of Suffield Board of Finance, Regular Meeting Minutes, Oct. 13, 2026 (draft) (https://www.suffieldct.gov/fs/resource-manager/view/c8bd41d0-dbb4-4df0-9ef2-7b3dbff5800e)
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