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The board voted 4-0 to approve a 3% maximum cost-of-living adjustment for FY2027. It also voted 5-0 to stop retirement deductions from ad hoc differential pay and give affected members the option of receiving refunds now or at retirement.
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The 3% adjustment will increase eligible retirement benefits for FY2027. The board also approved five retirement plans, a request to buy back prior service credit, and a policy change for deductions from certain extra pay. Financial records for January through March were reviewed but scheduled for votes at a future meeting.
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