Instituted in 1937, The Needham Retirement System (NRS) is one of 104 contributory retirement systems in the Commonwealth of Massachusetts. The Retirement System, governed by a five member board, is subject to the provisions of Chapter 32 of the Massachusetts General Laws. The board is comprised of two elected members, two appointed members, and an ex-Officio (Treasurer).
The Administrator is responsible for 821 active and inactive members and 460 retirees, survivors and beneficiaries, all financial transactions, investment activity, member accounts, retirement and pre-retirement counseling and government reporting.
The Needham Retirement System's members are actively working for the Town of Needham and Needham Housing Authority, or are retired from one of the above entities. Membership in the Needham Retirement System is mandatory for nearly all half-time and full-time employees.
The Board members and the Administrator are committed to serving the employees and retirees of the Town of Needham with diligence, honesty and courtesy.