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Brockton Retirement System asks city for $17.4 million for FY2026 assessment
Summary
The Brockton retirement board requested a FY2026 assessment of $17,403,772.75 — including a separate $135,506.75 veterans fund payment — and outlined state oversight and legislation that govern the fund.
The Brockton Retirement System asked the finance committee Wednesday for a FY2026 city assessment of $17,403,772.75, including a $135,506.75 additional assessment to cover veterans’ service credits.
The request came during the annual presentation by Jean Martineau, director of the retirement system, who told councilors the assessment is developed by the fund’s actuary and approved by the Public Employee Retirement Administration Commission (PERAC). “The request to the city for FY 2026 is $17,268,266, plus an additional assessment of $135,506.75,” Martineau said.
The retirement director said the system serves about 1,350 retirees and more than 3,000 active and inactive members and that the city of Brockton, the housing authority and Brockton Area Transit are contributing units. She described the board’s legal obligations under state law and the commission’s oversight: “Massachusetts General Laws Chapter 32 mandates that our board of trustees shall consist of 5 members,” Martineau said, adding the system must protect benefits through “efficient and careful oversight of investment practices.”
Martineau explained the separate veterans assessment resulted from an audit and a records exercise to identify deployed employees whose pay history requires adjustment so the retirement system receives required deductions for deployment periods. She said the total request to the city, after that work, is $17,403,772.75.
Councilors asked for additional materials. Councilor Farwell requested a one‑page investment summary; Martineau directed members to the fund’s monthly investment reports on its website but agreed to follow up as requested.
The retirement system presentation was informational; the committee did not take a vote on the assessment Wednesday. Any formal appropriation or adoption of the actuarial assessment will follow the city’s budget process.
