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Waco staff outline fiscal trade-offs for proposed TMRS enhanced COLA options
Summary
City staff presented options including a 50% enhanced COLA (estimated city cost ~$6.1 million) and a 70% option (~$11 million), describing projected impacts on contribution rates and general-fund trade-offs and promising detailed budget options at the June 2026 retreat.
Assistant City Manager and CFO Blue Kostelich briefed the council on potential enhanced Texas Municipal Retirement System (TMRS) cost‑of‑living adjustment options and the budgetary implications on Feb. 3.
Kostelich said TMRS actuarial updates were not yet complete and that the presentation used existing plan numbers. He presented three practical options that staff expected to analyze further; the two discussed in detail were a 50% enhanced…
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