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The board unanimously approved a 3.00% cost-of-living adjustment for FY2027, compared with a 2.80% Social Security increase, and approved a retirement-system warrant stated at $643,500.
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The 3% COLA will increase eligible retirement benefits for FY2027. The board also elected Denise Merriam to serve as chairperson from February 1, 2026, through January 31, 2027, and granted superannuation retirement benefits to John Smith effective December 1, 2025. The board reviewed December investment results, including a $412,581.01 increase in investment value and $57,133.75 in management fees.
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