Retirement Board splits on waiving elected officials' overpayments tied to PERAC audit
Retirement Board rejects waiver motions on three employees' overpaid benefits stemming from 2024 PERAC audit. Chair Daniel W. Sherman and Scott Morrison voted to waive the full deductions and overpayments owed by Michael McCarthy ($12,744), Eugene Sullivan ($264,371.66), and survivor Geraldine
Retirement Board · Meeting of June 18, 2026
WAKEFIELD — Retirement Board rejects waiver motions on three employees' overpaid benefits stemming from 2024 PERAC audit. Chair Daniel W. Sherman and Scott Morrison voted to waive the full deductions and overpayments owed by Michael McCarthy ($12,744), Eugene Sullivan ($264,371.66), and survivor Geraldine McCarthy ($122,922).
Vice-Chair Sherri A. Dalton, Erin Kokinda, and Elizabeth Rourke voted against, citing the legal obligation to reverse the purchases. The board unanimously waived all interest charges and approved repayment schedules: McCarthy at $500 per paycheck, Sullivan at $1,000 monthly until paid in full.
PRIM reported the Wakefield General Allocation Fund posted a 5.76 percent investment return fiscal year to date.
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Source: the Retirement Board meeting of June 18, 2026, compiled from the official minutes.
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