Gardner Retirement Board approves $974,450 warrant and 3% COLA increase
Gardner Retirement Board approves $974,450 warrant and 3% cost-of-living adjustment. Chairperson Denise M. Merriam, Board Members Robert W. Newton, David Walsh, and Karen Butler unanimously approved the payroll warrant for March 31, 2026, which included $524,340.37 in pension payments and
Retirement Board · Meeting of March 26, 2026
Gardner Retirement Board approves $974,450 warrant and 3% cost-of-living adjustment. Chairperson Denise M. Merriam, Board Members Robert W.
Newton, David Walsh, and Karen Butler unanimously approved the payroll warrant for March 31, 2026, which included $524,340.37 in pension payments and $118,140.05 in annuities, and voted to adopt a 3.00 percent cost-of-living increase for fiscal year 2027 retirees. The board also unanimously authorized Stone Consulting to calculate an alternative, more level funding schedule at no additional cost, following a request from City Councilor Calvin Brooks, with results to be reviewed when the actuarial valuation is completed later this year.
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Source: the Retirement Board meeting of March 26, 2026, compiled from the official minutes.
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