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Trustees schedule workshop to study proposed pension benefit changes, including COLA options
Summary
After lengthy discussion of proposed CAVMAC benefit changes — including enhanced COLA options and an ‘8‑year drop’ proposal — trustees agreed to a dedicated workshop (tentatively Jan. 14) and asked staff and an actuary to prepare detailed cost analyses.
Board members spent an extended portion of the Nov. 12 meeting discussing proposed benefit changes submitted by CAVMAC (the transcript uses variants including CAVMAC/CABMac). Topics covered included enhanced cost‑of‑living adjustment (COLA) models (a model discussed on conference panels proposed up to 3% COLA), which actuary should provide the next analysis…
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