City controller presents revised 2026 pension MMO; city says budgeted amounts remain unchanged

The City of Chester's controller, Joy Taylor, presented a revised Minimum Municipal Obligation (MMO) for 2026 at the Dec. 22, 2025 council meeting, citing updated valuations as of Jan. 1, 2025.

Taylor said the revised MMO figures are: $35,003 for the O&E plan; $6,634,111 for the police pension plan; and $2,936,576 for the fire pension plan. She reported that the aggregate revision represents a net change of $1,065,861 compared with amounts previously approved earlier in the year. She added that the city has already budgeted the original amounts and therefore does not expect an immediate cost savings as a result of the revision.

Taylor also noted that the revised MMOs reflect revenue changes in the pension funds over the preceding months and that the full report and related materials will be made available on the city's website for review.

Council members did not request further immediate action; the controller closed the report and indicated the materials would be posted for public review.