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The board unanimously approved processing Nicholas Tillman’s mandatory pension forfeiture and refunding accumulated deductions, with federal tax applied and zero interest.
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The board determined that the pension forfeiture should be processed and the member’s accumulated contributions refunded under the stated tax treatment. It also unanimously approved the 2025 Annual Statement, two transfers of retirement deductions, and a partial refund for an accidental-disability retiree. The board discussed a possible increase of up to 3% in the March COLA meeting, but no COLA was approved at this meeting.
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