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Selectmen shave $1 million from recommended retirement contributions amid affordability concerns
Summary
The board voted to reduce FY27 retirement-related contributions by $1 million (a $250,000 cut to the pension contribution line and $750,000 from OPE/OPED trust contribution), after extended debate over actuarial drivers, taxpayer burden and use of surpluses.
After a lengthy discussion of actuarial timing, fund mechanics and taxpayer impact, the Board of Selectmen approved a combined $1,000,000 reduction to retirement-related contributions for fiscal 2027.
First Selectman proposed reducing $250,000 from line 51940 (pension contribution) and $750,000 from line 51949 (OPE/OPED contribution) to lower the immediate tax burden on residents. "I know we're going to cut it—so I'm asking, can I negotiate and take it away?" the First Selectman said when moving the amendment. Supporters said the town has had repeated surpluses in certain lines and that some savings derive from unfilled positions; opponents warned that underfunding actuarial recommendations increases long-term liability and can affect bond ratings. The motion passed by voice vote, and staff revised the retirement budget total to $7,295,523, which the board subsequently approved.
Members emphasized follow-up planning: the First Selectman said he would work with the retirement commission on a multi-year funding plan and suggested repaying reductions if end-of-year surpluses permit. Several selectmen urged the board of finance and RTM to consider the town's long-term obligations when finalizing appropriations.
