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Trustees approve 2026–27 pension budget with contingency cushion
Summary
The board approved the proposed 2026–27 budget, which staff described as a forecast with built-in contingency to avoid overages and state intervention; trustees discussed insurance and IME fee assumptions before voting.
Troy (speaker 5) presented the proposed 2026–27 budget, explaining the right-hand figures are proposed budget totals and left-hand figures reflect actual spending through 06/30; he described the document as a forecast that builds in a cushion for anomalies such as legal or special meeting costs. Trustees asked whether insurance billing or IME physician-fee timing could push the plan over the state filing threshold; staff said the cushion was intended to avoid triggering state involvement.
After questions and clarifications, Chair moved to approve the budget, a trustee seconded, and the board voted to adopt the proposed 2026–27 budget.
