Town Meeting Approves Increase to Retirement COLA Base
Wellesley Retirement Board informed of COLA base increase to $25,000. Chair David Kornwitz reported that Town Meeting voted to raise the cost-of-living adjustment base to $25,000 over four years, with the first increase to $22,000 effective July 1, 2026. The board approved three warrants totaling
Retirement Board · Meeting of April 28, 2026
Wellesley Retirement Board informed of COLA base increase to $25,000. Chair David Kornwitz reported that Town Meeting voted to raise the cost-of-living adjustment base to $25,000 over four years, with the first increase to $22,000 effective July 1, 2026. The board approved three warrants totaling $1.73 million and the 2025 annual financial statement.
Investment consultant Meketa noted 10-year expected returns have declined to 6.6 percent from 7.0 percent; the board voted to continue gradually de-risking the fund rather than making a large single reallocation.
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Source: the Retirement Board meeting of April 28, 2026, compiled from the official minutes.
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