Multi-Year Budget Advisory Committee extends model to FY33, studies retirement cost scenarios.
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.
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:
- The complete report — 226 words
Source: the Multi-Year Budget Advisory Committee meeting of April 30, 2026, compiled from the official minutes.
Members read the rest of this story and every Belmont meeting we cover, in full.
Become a memberAlready a member? Sign inA 30-day free trial needs a payment method. After it, your membership renews at the price shown at checkout until you cancel, which you can do anytime from your account. Subscription terms
Share this brief
Know someone in Belmont who follows town government? Share Townbrief Belmont: they can sign up free.