Andover Retirement Board Investment Regulations

Regulations accepted by the board and approved by PERAC

PERAC Approval Date: 03/20/2001

Investment/Supplemental Regulation

Regulation Number 1.01(2): It is the Board’s position that its fiduciary duty requires that the Board participate in all class action lawsuits in which there exists reasonable cause to believe that the Board’s assets have been diminished, or otherwise negatively affected, as a result of misconduct or fraud. In addition, the Board, in its sole discretion, may decide to participate in such actions as Lead Plaintiff under circumstances which would justify that role as an appropriate discharge of the Board’s fiduciary responsibility.