Retirement board conditionally backs COLA benefit increase funding plan
Belmont Contributory Retirement Board · Meeting of April 23, 2026
Belmont's Contributory Retirement Board conditionally approved a deferred-cost COLA benefit funding plan. The board voted to adopt Option #3, which reduces the fiscal 2027 appropriation to $11.8 million and extends the full funding date to fiscal 2032, contingent on Town Meeting approval of Article 17 to raise the COLA base from $13,000 to $15,000. Chair Thomas Gibson noted that Belmont's COLA base lags behind its peers and is due for its first increase since 2018.
In the full story:
- The complete report — 209 words
Source: the Belmont Contributory Retirement Board meeting of April 23, 2026, reported from the official video recording and transcript.
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