Multi-Year Budget Advisory Committee extends model to FY33, studies retirement cost scenarios.
Multi-Year Budget Advisory Committee · Meeting of April 30, 2026
BELMONT — Multi-Year Budget Advisory Committee extended its financial model through fiscal year 2033 and examined a scenario raising the Retirement Board COLA base from $13,000 to $15,000. The change carries an estimated cost of $500,000 in FY27 and $3.6 million over eight years, according to the minutes. Committee member Conor McEachern characterized the increase as functioning like a seven percent loan against expected retirement system returns.
The committee requested actuarial modeling of capital market downturns and lower investment returns, and will not take a formal position on any COLA article but plans to brief the Warrant Committee on financial implications.
In the full story:
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Source: the Multi-Year Budget Advisory Committee meeting of April 30, 2026, reported from the official video recording and transcript.
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