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Commissioners weigh retiree pension increases as fund remains above 100% funded
Summary
Board discussed options to restore buying power for retirees after a 25-year pause in post‑retirement adjustments; proposals range from 1% to 1.5% compounded annually or 1% per three years. Commissioners asked for detailed cost and sustainability analyses before any action.
Kalamazoo County commissioners spent part of the March 4 meeting reviewing proposals to increase retiree pension benefits after more than two decades without automatic adjustments. Administration and the retirement-investment committee presented funding scenarios and actuarial implications; no final vote was taken.
The nut graf: Commissioners acknowledged a tension between restoring retirees’ lost purchasing power and preserving the long-term funded status of the county’s defined-benefit plan. Staff and trustees recommended further study and a defined schedule for recurring review.
County administration outlined three illustrative approaches raised by retirees and board leadership: a 1% compounded annual…
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