Board adopts ISERS administrative budget of $3.12 million for 2025–26

The Imperial County Board of Retirement approved the ISERS administrative budget for fiscal year 2025–26 with a grand total budget of $3,117,621.

David Puente, retirement financial officer, presented the proposed budget and highlighted that the $3,117,621 grand total reflects a 2.81% increase aligned with the Consumer Price Index for some line items. He told trustees the operating budget includes a $1,708,282 amount for specific line items and a budgetary transfers line of $1,409,339 (the presenter corrected an earlier memo discrepancy). Puente said salaries and benefits increased by about $106,000, primarily driven by the newly approved position and an assumed tentative 3% raise countywide; step increases for multiple employees are also included.

Puente discussed other line items: a $5,000 increase in special training because departmental policy provides up to $5,000 per employee for training; an estimated $111,000 underspend from the prior year in training and travel expected to be available; and an overhead reduction of roughly $27,000 driven by a county overhead credit. He also reviewed Appendix A technology costs that are presented for board approval but are paid from investment funds as allowed under the County Employees Retirement Law.

Trustees asked for clarifications about the budgetary transfer figure and training allocations; Puente identified the correct transfer total on the budget sheet. Trustee comments reiterated interest in an organizational before/after chart and clearer cost breakdowns; staff committed to providing details.

Trustee Norma Kaye Howdygui moved to approve the administrative budget; Trustee Suzanne C. Ramirez seconded. The motion passed on an aye vote with no recorded opposition.