Warrant Committee rejects retirement benefit proposal by 2-15 vote
Warrant Committee rejected a retirement COLA increase by 2-15 vote. The Committee voted against recommending favorable action on a proposal to increase the retirement system's cost-of-living adjustment base from $13,000 to $15,000, which would have raised the maximum annual COLA from $390 to $450
Warrant Committee · Meeting of May 13, 2026
BELMONT — Warrant Committee rejected a retirement COLA increase by 2-15 vote. The Committee voted against recommending favorable action on a proposal to increase the retirement system's cost-of-living adjustment base from $13,000 to $15,000, which would have raised the maximum annual COLA from $390 to $450 but added $2.1 million to the system's actuarial accrued liability and extended the funding schedule by one year. Only Jack Weis and Hilton Madevu-Matson supported the measure.
In other business, the Committee unanimously approved a $485,332 transfer from reserves to cover snow and ice budget deficits, voted favorably on expanded eligibility for the Senior Tax Work-Off Program, and unanimously approved salary adjustments for elected officials.
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Source: the Warrant Committee meeting of May 13, 2026, compiled from the official minutes.
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