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Chester CFO: 2026 minimum municipal obligation $10.7M, required payment may rise to $13.9M and affect next year's budget
Summary
Chief Financial Officer Richard Trautman presented pension funding figures at the Sept. 10 meeting, saying the actuaries calculated a $10.7 million minimum municipal obligation (MMO) for 2026, but rule-driven requirements could increase the actual payment to about $13.9 million, representing about 23% of the city's projected budget.
Richard Trautman, Chester’s chief financial officer, presented the 2026 Minimum Municipal Obligation (MMO) for the city’s pension plans at the Sept. 10 council meeting, as required by Pennsylvania law.
Trautman told council the actuaries calculated an MMO of $10,700,000 for 2026 — about $128,000 less than the prior year — but cautioned that accounting rules (including items under Act 205) mean the practical required payment…
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