Retirement Study Council adopts FY2026 budget and approves 3% raise for director

The Retirement Study Council adopted its fiscal year 2026 budget on June 12 and approved a 3% raise for the council director after a brief presentation and roll-call vote.

The budget vote followed a staff summary from the council director, who told members the FY2026 request is “substantially similar” to the current year, with a modest increase and a large carryover. The director said the personnel line accounts for long‑tenured staff and that the council had set aside funds to cover potential staffing changes. “If either one of us leave, we will bankrupt the council,” the director said, explaining why the personnel line includes an extra cushion.

The chair moved to adopt the proposed budget and include a 3% raise for the director; the motion was seconded by the vice chairman and carried on a roll-call vote. Representative Brennan voted yes; Representative Plummer voted yes; Vice Chairman Romanchuk voted yes; Senator Blackshear voted yes; Senator Blessing voted yes; Miss Miller voted yes; Doctor Pottingill voted yes; Mister Shearer voted yes. The chair announced the motion carries.

In discussion before the vote, the director emphasized stable professional services costs due to recently rebid contracts that are still in a phased-in rate. The director said insurance costs remain low but noted the need to plan for life‑changes for long‑term employees.

The council did not debate the budget line‑by‑line in open session. Following the vote, the chair closed the item and moved to the next agenda topic.

The council will not meet in July; the next scheduled meeting is Aug. 14, subject to the call of the chair.