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Board reviews municipal retirement options, asks staff to survey employees
Summary
A VMERS representative outlined differences among retirement plan groups and the potential cost and benefit tradeoffs of shifting municipal employees from plan A toward plan B or C; the board asked staff to provide individualized impact spreadsheets and to seek confidential employee feedback before any vote.
A representative from the Vermont Municipal Employees’ Retirement System reviewed the town’s current plan grouping and displayed the gap between the existing plan (group A) and the police group (group D). The board discussed whether moving non‑police employees closer to a higher tier (plan B or C) would be feasible and how it would affect employee paychecks and town contributions.
The VMERS representative emphasized that plan choices differ on contribution rates, normal and early retirement ages, and the final‑average‑compensation calculation period. Board members asked staff to provide confidential, individualized spreadsheets showing how plan B or plan C would change each employee’s paycheck and to solicit private feedback from each worker; the board set a timeline to revisit the matter before the state notification deadline (Sept. 30).
No change was adopted at the meeting; the board directed staff to gather employee feedback and report back with a recommended path by the next review cycle so the town can consider the budgetary impact for the coming fiscal year.
