Retirement Board

There are 104 contributory retirement systems within the Commonwealth of Massachusetts. The City of Woburn Retirement System is one of them. These systems have accepted the Provisions of Sections 1-28 of Chapter 32 of the Massachusetts General Laws (contributory sections). As a result of this acceptance, all systems, although operating independently, are bound together under one uniform retirement law. Each of these systems is governed by its own retirement board.

TIME TO VOTE 

FIFTH MEMBER POSITION

The Woburn Retirement System is seeking qualified applicants interested in serving as the Fifth Member of the Retirement Board for a three-year term commencing on January 1, 2027. 

The five-member Board acts as fiduciaries of the Woburn Retirement System and performs their duties solely in the interest of its members and beneficiaries in accordance with Massachusetts General Laws, the rules and regulations promulgated by the Public Employee Retirement Administration Commission (PERAC) and the rules and regulations adopted by the Board as approved by PERAC.  The Board oversees the administration of approximately 1,400 active, retired, and inactive members and approximately $238 million in pension assets. 

In accordance with MGL Ch. 32, Sec. 20(4)(b), the Fifth Member shall not be an employee, retiree, or official of the Woburn Retirement System or any of its constituent governmental units. The Fifth Board Member will be interviewed and chosen by the other four Retirement Board Members.

The Board meets once a month, on the last Wednesday at 8:30 am.  Board members are paid a yearly stipend of $4,500.

Board members are required to:

• File an Annual Statement of Financial Interest with PERAC detailing personal assets
• Complete Conflict of Interest and Ethics training biannually
• Develop knowledge of Massachusetts Open Meeting Law
• Develop knowledge of Massachusetts General Laws, Chapter 32
• Attend meetings, seminars and educational trainings as necessary
• Complete 18 hours of training during their first three years of their term in order to continue to server on the Board.  A minimum of three credits of training must be earned annually.

Interested applicants should submit a letter of interest and resume to:  Woburn Retirement System, 10 Common Street – 2^nd Floor, Woburn, MA 01801, or email to aspeicher@cityofwoburn.com.

Submissions are to be received on or before 4:00 pm October 29, 2026.

For additional information, please contact Anne Speicher, Executive Director at (781) 897-5823