CONTRACTONGOING

Town deposits pension excess with National Iron Bank

Document date: Jul 3, 2024
Term: 5 1/8% interest, term not specified

What it covers

The Town of Norfolk will deposit the remaining overfunded balance from its closed Defined Benefit Plan into an interest-bearing account at National Iron Bank at 5 1/8%. This action follows the placement of $135,000 into a separate 5‑month CD and was reported by the Town Treasurer to the Board of Finance.

Who holds it

National Iron Bank holds this financial services contract with Town of Norfolk. Its other public contracts on record include work for Town of Washington and Regional School District 06.

What happens next

Term as filed: 5 1/8% interest, term not specified.

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Contract details

Contract type: Financial Services
Document date: July 3, 2024
Term: 5 1/8% interest, term not specified
Vendor: National Iron Bank
Agency: Town of Norfolk
Source document: Board of Selectmen Meeting Minutes July 3, 2024 (Minutes)

National Iron Bank's other public contracts

Town of Washington, ConnecticutTown Transfers Funds to National Iron Bank Account · Oct 19, 2026Undisclosed Town of Norfolk, ConnecticutBank Helps Fund Summer Plaza Plantings · Apr 7, 2026Undisclosed Regional School District 06, ConnecticutTown secures higher interest rate with National Iron Bank · Apr 2, 2026Undisclosed Town of Colebrook, ConnecticutNational Iron Bank Re-appointed Town Depository · Dec 8, 2025Undisclosed Town of Canaan, ConnecticutNational Iron Bank Proposed for Town Depository FY24-25 · Jun 1, 2024Undisclosed All National Iron Bank contractsVendor profile

More Town of Norfolk contracts

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Questions about this contract

Who was awarded the financial services contract by Town of Norfolk?

National Iron Bank was awarded this financial services contract by Town of Norfolk, as recorded on July 3, 2024.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record.

Where was this contract approved?

This contract appears in Board of Selectmen Meeting Minutes July 3, 2024 (Minutes), dated July 3, 2024 from Town of Norfolk. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does National Iron Bank hold?

National Iron Bank may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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