Board approves off-cycle salary flexibility for senior staff

Karen Durant, staff to the board, reviewed the board's statutory salary-setting authority and the prior market analysis conducted by Troop HR. She said the board adopted a salary structure in 2024 and that the consultant is finalizing the 2026 market analysis for presentation at the May meeting.

Board member Jason moved to "amend our board salary setting process, to consider increases at any time, providing the board the flexibility in order to make those decisions." The motion was seconded and adopted by voice vote with no recorded opposition.

Mitch DeCampoff, the state actuary, explained the drivers behind the proposed changes: demographic assumptions, life expectancy adjustments and actuarial equivalence. Karen said any off-cycle changes would still be coordinated with OFM (Office of Financial Management) and follow the board's processes for transparency and budget alignment.

The board did not take an immediate pay action; the motion changes the process to allow the board to consider off-cycle adjustments when needed. Staff said the consultant will present final market data at the May meeting and any board action would be scheduled for July.