Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Council hears proposal to raise TMRS contribution as personnel costs climb
Summary
City staff told the council that moving the municipal retirement contribution from 6% to 7% and other salary-related changes would raise recurring personnel costs by roughly $98,000 a year and push the fire department payroll and retirement line items substantially higher.
Fred (staff member) told the Town Council at the Aug. 14 budget workshop that the town is proposing changes to retirement and payroll assumptions that would add recurring costs to the personnel budget. The town’s payroll plan includes a proposed 3% cost-of-living increase for all employees and a recommendation to raise the town’s matching contribution to the Texas Municipal Retirement System — TMRS — from the current 6% to 7%. "We're requesting a 3% COLA for all employees," Fred said. "We are currently at the 6% rate. I'm proposing that we go to the 7% rate." Why it matters: City finance staff said the retirement increase, combined with payroll taxes and other personnel-related…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
