Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Employee Benefits topic
No spam. Unsubscribe anytime.
Board keeps retirement matching rate at 10% for 2025–26
Summary
City Recorder Jim E. Garland recommended maintaining the retirement plan group match at 10% for the 2025–2026 budget year; the board approved the recommendation after noting the statutory minimum of 7.01%.
City Recorder Jim E. Garland explained the city's retirement plan is a defined-benefit plan with a group match rather than a per-person match and noted the minimum required rate for 2025–2026 is 7.01%. Recorder Garland recommended keeping the match at the current 10% for fiscal year 2025–26.
Alderman Donna R. Butler moved to approve the recommended 10% matching rate, Alderman Keith Smith seconded the motion, and the board recorded the motion as carried. The change will be reflected in the FY2026 budget documents and implemented according to plan rules.
