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PERS increase could cost district about $726,000 in year one; bonds used to manage liability
Summary
Committee heard that blended PERS costs for the district are projected near a 5.5% increase, translating to roughly $726,000 in additional cost in year one; staff explained prior bond actions used to reduce the district’s actuarial pressure.
Staff told the committee the district expects a meaningful increase in state retirement costs that will affect the 2025–26 budget. "Our district is having an increase of about 5.5%," the Chair said while explaining that the district blended tiers and prior bond financing have moderated the immediate increase. Staff estimated about $726,000 of additional cost to the district in the first year.
Presenters reviewed background on tiers and unfunded actuarial liability, noting some districts are facing much higher percentage impacts and explaining the district’s prior use of bond proceeds to reduce its share of the unfunded liability. The committee discussed multi-year planning and the possibility that statewide market performance could shift the projected relief timeline to the early 2030s.
