A number of former police officers and firefighters, concerned about a retirement fund that was closed 50 years ago but possibly never invested or distributed, brought their questions to the town’s Pension Board meeting Monday night.
Documents indicate the John Hancock Annuity account, comprised of contributions from several police officers and firefighters and the town, was worth almost $364,000 in 1969, when it was closed.
But it dwindled to a check for just over $66,000, mailed to the pension board about a year ago with no explanation, according to board members. That provoked retired police officer Kevin O’Connell, whose father is one of the officers who contributed to the annuity, to start asking questions.
“It didn’t make any sense,” O’Connell said. “What happened to the money?”