On June 5 Town Meeting approved Article 7, the Pension Obligation Bond.
This plan to address Andover’s unfunded pension liability was developed over many months of public meetings and with feedback from stakeholders across the community.
Put simply, it represents Andover’s least expensive and most responsible option for meeting our significant pension obligation while preserving the town and school services that are so important to our community.
Importantly, the funding plan behind Article 7 does not place the burden solely on the taxpayer; it includes responsible budget measures and spending reform.
Backed by unanimous support from the Select Board, Finance Committee, School Committee and Revenue/Expenditure Task Force, Article 7 is a well-vetted strategy that controls the annual cost to the taxpayer and limits the exposure to the town.
We cannot sit back and hope for another solution to come along.
To be clear, waiting will cost the town and taxpayers more and result in lost services and jobs. Acting now will set us on a responsible course for decades to come and allow for more resources to make Andover even better.
I ask your readers to join me in voting to approve the Pension Obligation Bond at the ballot box on June 15th.