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The Board voted to adopt a funding plan that would keep fiscal 2027 appropriations at the fiscal 2026 level—about $11.8 million—and extend full funding by one year to fiscal 2032, if Town Meeting approves increasing the retiree COLA base.
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The plan is tied to Warrant Article 17, which would increase the amount used to calculate retirees’ cost-of-living adjustments. If the article passes, the adopted option would level scheduled retirement-system payments and delay full funding by one year. The meeting did not itself approve the COLA increase; that decision remains contingent on Town Meeting action.
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