Troy, a representative of the East Buffalo Fire Department, told the City Council on Dec. 22 that the department is asking the city to approve a $400 increase per year of service in the volunteer firefighters’ pension. The change would raise the annual benefit to $8,400 per year of service beginning Jan. 2026.

The requested increase was presented as affordable because the relief association’s investment earnings and fund balance would cover the change rather than a direct municipal tax increase. "We are requesting as our fund does support, an increase of $400 per year service with the new benefit of $8,400 per year service starting on January 2026," Troy said. When a council member asked whether the increase would come from investment earnings and not taxpayers, Troy replied, "That's correct."

Troy told the council the relief association moved investments to the Public Employees Retirement Association (PERA) and that, as of the most recent PERA report, the plan is 109% funded — meaning no mandatory municipal contribution is required for now. He said year-to-date investment earnings were $187,562 and that the fund’s approximate balance was $2.9 million versus estimated liabilities near $2.6 million.

Council members pressed for clarity about assumptions used in PERA projections and the city’s contingency if markets decline. Troy described PERA’s process and timelines: PERA issues an annual report that sets assumed rates and funding ratios; a market correction could trigger a mandatory municipal contribution in a later year depending on PERA’s reports.

Council agreed to leave the pension item on the regular meeting agenda/consent list so the body could vote during the regular meeting. Staff confirmed the item was already scheduled to appear on tonight’s agenda.