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The board unanimously approved a 3% increase applied to the $16,000 cost-of-living adjustment base for retirees. It also approved $976,775.77 in March retiree payroll and a $70,523.31 package of expenses, refunds, and transfers.
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The approved COLA increase raises the amount used to calculate eligible retirement cost-of-living adjustments. The board also advanced a preliminary offer for an assistant administrator at $80,000 per year, with a six-month introductory performance period. Other actions included approving the 2025 annual statement, new members, one retirement, and service-credit adjustments.
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