City CFO Troy Clarkson presented a plan to transfer $3,388,863 from the pension stabilization fund into the Brockton Retirement Board account to cover this year’s normal pension costs and to position the city to issue additional pension obligation bonds (POBs) that officials expect will yield multi-year budget savings.

Clarkson described the analysis prepared with consultants and underwriters (Stifel and Hilltop) and said the plan produced estimated FY27 and FY28 budget savings of about $3.3 million each year, with smaller savings thereafter through the anticipated POB structure. He said the city currently has about $26 million in the pension stabilization fund and that the transfer would leave the fund at an estimated $22.674 million after the transaction. The committee recommended the transfer favorably.