EagleTribune.com, North Andover, MA

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April 29, 2014

Martin eligible for $150K pension

Top 40 state pension for retiring director

METHUEN — Kenneth Martin, the longtime director of the Methuen Housing Authority, is eligible for an annual pension of nearly $150,000 when he retires in the coming weeks.

That would put him the ranks of the state’s top 40 pension earners.

Martin, 62, has 39 years of service in Lowell and Methuen, which would count together, and 32 years as the part-time director of the Ayer Housing Authority. His pension would be based on his combined income from both Methuen and Ayer, retirement officials said.

“I have been healthy enough and fortunate to have been able to work 55 to 60-plus hours per week at two jobs for over 30 years,” Martin said. “The results of my efforts will allow me to obtain a good pension and I’m very grateful for that.”

Martin’s 39 years began in 1975, when he won a job with the Lowell Housing Authority, according to Lowell officials. He worked there until 1990, when friend and former Lowell Housing Authority colleague Michael McLaughlin, then town manager in Methuen, helped him land a job as Methuen’s public works director.

In 1996, Martin was hired as director of the Methuen Housing Authority, a full-time position he has held ever since. The job now pays him $133,000 per year.

Shannon Dowd, Lowell retirement system administrator, said the entire length of service in Lowell and Methuen will count in Martin’s pension calculation in the Methuen system. Lowell would reimburse Methuen for the portion that covers his 15 years at that housing authority.

Martin started as the part-time director of the Ayer Housing Authority in 1982 and currently earns $55,788 a year, according to Middlesex County retirement officials.

Ayer joined the Middlesex County Retirement System in 1988, according to Thomas Gibson, chairman of the Middlesex County Retirement Board.

“Because Mr. Martin was vested in both retirement systems as of 1/1/10, his high three-year average compensation for retirement calculation purposes will be combined,” Gibson said in an email to The Eagle-Tribune.

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