Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Pensions And Compensation topic
No spam. Unsubscribe anytime.
City staff warns of TMRS employer rate rise; council briefed on temporary 1% salary offset
Summary
Staff said the TMRS employer contribution rate will rise from 7% to 8% on Jan. 1 and recommended a temporary 1% salary increase through Sept. 30, 2027, rather than permanent salary adjustments.
Kim Quinn told the council the city’s TMRS contribution rate will increase from 7% to 8% effective Jan. 1 and that the proposed budget includes a 1% temporary salary increase (January through Sept. 30, 2027) to offset the higher employer cost. "The TMRS rate going from 8 from 7% to 8%, and that would be beginning January 1," Quinn said.
Quinn said there are no base salary adjustments in the proposed budget because employees voted to accept a TMRS-route option rather than permanent raises. Council discussion focused on managing the employer-cost increase within the current budget and the temporary nature of the salary-offset recommendation. Final decisions on compensation will be reflected in the budget adoption process in August.
