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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, with payments to be processed in the July 2026 monthly payroll.
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Retirees and eligible survivors will receive a 3% increase to their retirement benefits for FY2027. The board also approved a calculation of a more level long-term funding schedule and accepted a new mortality table for its upcoming actuarial review. The meeting minutes do not state the resulting funding schedule or any change to current contribution amounts.
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