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Council debates TMRS cost‑of‑living adjustment; staff urges action to meet state window
Summary
Council discussed adding a TMRS cost‑of‑living adjustment for retirees (staff proposed a 30% of CPI option with no retroactive catch‑up), with staff saying a legislative window closes in 2025; public comment urged more transparency and for pulling consent items for discussion.
Council held an extended discussion about a TMRS cost‑of‑living adjustment (COLA) for retirees, reviewing funding ratios, catch‑up mechanics and recruitment implications.
Staff explained the town participates in the Texas Municipal Retirement System and that a $1 million liability buy‑down from prior funds created room to introduce a COLA without creating an immediate funding shortfall. Staff said…
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