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Health care, retirement and buyouts drive town budget increases, finance director says
Summary
Town finance director told the board that rising retirement contributions, self-insured health insurance costs, and unpredictable retirement buyouts are central drivers of the proposed 2026 budget and explained options for managing fund balance and reserves.
Rising employee-related fixed costs'pensions, health insurance and retirement buyouts'were the central focus of a town presentation at the Feb. 19 budget hearing. Brian Krause, the town's finance director, told the board that New York State retirement rate changes, contractual pay increases and an aging workforce are pushing retirement and payroll-related costs higher in 2026.
Krause told the board he estimated New York State retirement expense at about $11.25 million for 2026, up more than $1 million from current-year appropriations, driven largely by higher employer rates and the structure of police and fire retirement tiers. "As our payroll costs increase, so does our retirement costs," he said.
Health insurance: Krause said the town's self-insured medical plan saw premium equivalents…
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