Multi-Year Budget Advisory Committee

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 updates model with sharper health care pressures. The committee, led by members Tom Caputo, Conor McEachern, Matt Taylor, Chris Doyle, and Matt Kraft, reviewed revised budget assumptions showing health care costs growing at 15 percent annually instead of the

The Multi-Year Budget Advisory Committee deferred or eliminated its upcoming Budget Summit III pending release of Group Insurance Commission rates in February. Chair Tom Caputo and member Patrice Garvin cited the need for healthcare rate information before proceeding. The committee discussed the