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Parmer County reviews restoring retirees' COLA and possible employee match increase
Summary
A TCDRS representative told the Parmer County Commissioners Court the county has not provided a Cost-of-Living Adjustment to retirees since 2006; commissioners asked for detailed cost estimates and deferred any decision to a later meeting.
Ralph Wallace of the Texas County & District Retirement System told the Parmer County Commissioners Court on July 8 that the county has not granted a Cost-of-Living Adjustment to retired county employees since 2006 and outlined several ways the county could structure a COLA and the associated costs.
Wallace, presenting to the Court during the regular session in Farwell, explained options that include fixed-percentage COLAs, inflation-indexed adjustments and phased increases tied to employer contribution rates. He also reviewed the trade-offs of raising the county's employee match rate to help shore up retiree benefits.
The presentation mattered to officials and retirees because restoring or changing a COLA would affect long-term county pension liabilities and could alter employee contribution expectations. Judge Isabel Izzy Carrasco and commissioners pressed Wallace for more precise cost estimates and asked for follow-up information before adopting any changes.
There was no formal motion to change retirement policy at the meeting. The Court asked staff and the TCDRS representative to provide additional details so members could evaluate fiscal impacts ahead of any formal vote. The Court did not set a deadline for that follow-up.
