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Board adopts $3.12 million administrative budget for 2025–26
Summary
Trustees approved the Imperial County Employees' Retirement System administrative budget for fiscal year 2025–26, including funding the new retirement specialist position and a tentative 3% staff raise; packet materials show a total budgeted amount and budgetary transfers.
The Imperial County Board of Retirement voted June 18 to adopt the retirement system’s administrative budget for fiscal year 2025–26.
Retirement Financial Officer David Puente presented the proposed budget and reported a grand total administrative budget of $3,117,621, representing a 2.81% increase overall and a $99,444 (6.18%) increase in specific administrative line items compared to the prior year. Puente said the budget includes salary and benefits increases of about $106,000 tied to the newly approved position and a tentative 3% raise for staff, along with expected step increases.
Puente walked trustees through Attachment 9.1 (proposed budget), Attachment 9.2 (non-salary detail), Attachment 9.3 (employee salary & benefits sheet) and Attachment 9.4 (descriptions and technology appendix). Trustees asked for clarifications about a small discrepancy in the memo’s budgetary-transfer number and about per-employee training allowances; Puente acknowledged a minor memo error and confirmed the correct amounts appear in the budget spreadsheet.
The budget packet also listed technology and data-processing costs presented under Appendix A; those costs are allowable under the County Employees Retirement Law and are paid from investment funds, not the administrative budget, the presenter said. Trustees approved the proposed administrative budget by motion.
