3-11-26 BOF Budget Hearing Agenda & Backup Documents

BOARD OF FINANCE
AGENDA
Waterford Town Hall Wednesday, March 11, 2026
Budget Hearing Town Hall, 7:00 p.m.
1. Call to Order
2. Public Comment
3. 10145 — Human Resources 3 = 2
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9. Adjournment
Glenn Patterson, Chairman

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Our Mission:
‘Our mission in Human Resources is to provide the Town's citizens with quality, cost-effective services in
the areas of recruitment, retention, labor relations, training, safety and administration of all benefits and
employment policies of the Town. Our goal is to provide the above services with integrity and efficiency
in all of our interactions in a work environment that is characterized by fairness, open communication,
personal accountability, trust and mutual respect. The Town of Waterford recruits, hires, compensates,
trains and promotes persons on the basis of qualifications for the work to which they will be assigned.
The Town is committed to ensuring that applicants are employed and employees are treated fairly during
employment without regard to race, color, sex, sexual orientation, gender identity or expression,
national origin, ancestry, religion, age, veteran status, physical or intellectual disability, marital status,
present or past history of mental disorder, learning disability or any other characteristic protected by
federal, state or local law. All employment-related policies, procedures and actions are designed to
comply with applicable laws.
Looking Bat
During FY 2025, the Human Resources Department saw a decline in recruitment postings compared to
the last few years. The Department posted and/or advertised 27 open positions, resulting in 5
promotions, 19 new full-time hires, and 3 new part-time hires. In addition, the Department processed
119 seasonal new/re-hires consisting of 55 employees for the Recreation & Parks Department
playground program and beach staff and 64 employees for the Youth & Family Services’ Camp DASH
program.
Recruitment by Fiscal Year
FY 2025 FY 2024 FY 2023, FY 2022 FY 2021,
8
88 8
‘Number of People
Promotions = New Hires

Secretary | (Police Department): 28 years of service
Survey Party Chief (Utility Commission): 28 years of service
Patrolman First Class (Police Department): 26 years of service
Patrolman First Class (Police Department): 25 years of service
Patrolman First Class (Police Department): 23 years of service
Turnover by Fiscal Year
FY 2025 FY 2024 FY 2023, Fv 2022 Fy 2021
Number of People
ow SRRR SER
laRetirements _s Resignations/Terminations
In regards to collective bargaining, the Town of Waterford settled one collective bargaining agreement
(CBA) during FY 2025 with the Waterford Professional Firefighters Association, Union Local 4629
International Association of Firefighters, AFL-CIO. This CBA was signed on December 23, 2024 after RTM.
approval and covers the period of July 1, 2024 — June 30, 2028.
Aside from the Waterford Professional Firefighters, no other union negotiations took place in FY 2025,
as the remaining CBAs remain in effect through June 2026 and June 2027.

to increase, the Town will continue to work on cultivating a positive culture and positive employee
experience along with ensuring the Town’s leaders and managers are receiving the support and training
they need to effectively lead their teams.
With the Personnel Review Board's approval, the Director of Human Resources, in collaboration with the
‘Town’s labor attorney, will begin updating the Town's Personnel Policies Manual with the intent to
finalize in FY 2027.
In regards to collective bargaining, the Town of Waterford will begin negotiations for a successor CBA in
FY 2027 with the Local 818 of Council #4, American Federation of State, County, and Municipal
Employees (AFSCME), General Government Administrators (GGA). It is anticipated that this CBA will not
be settled until FY 2028.
Itis also anticipated that the Town of Waterford will conclude negotiations for successor CBAs in FY 2027
with the following bargaining units:
* Local 1303-037 of Council #4, American Federation of State, County, and Municipal Employees,
AFL-CIO: Current collective bargaining agreement ends June 30, 2026
© United Public Service Employees Union/Connecticut Organization for Public Safety Division
(UPSEU/COPS) Waterford Police Union: Current collective bargaining agreement ends June 30,
2026
© United Public Service Employees Union (UPSEU), Waterford Public Safety Dispatchers Unit:
Current collective bargaining agreement ends June 30, 2026

Human Resources Director
$1210 - CLE :CHNICAL $63,005
Human Resources Assistant
51910 - FRINGE BENEFITS $12,602
51920-FICA: 7.65% of taxable wages of $164,726 = $12,602
GRAND TOTAL 51000 SERIES $177,328
52010 ~ ADVERTISING $4,600
Indeed: $400/post x 10 postings = $4,000 (see attached example)
CCM: $150/post x 4 postings = $600 (see attached example)
Expended FY25 Expended FY24 Expended FY23 Expended FY22
$1,456 $2,997 $1,661 $2,341
52020 — POSTAGE $767
15 pieces per week @ $0.78 each $608.40
30 certified notifications @ $5.30 each $159.00
Expended FY25 Expended FY24 Expended FY23 Expended FY22
$359 $453 $514 $558
52030 — PROFESSIONAL FEES $57,000
Legal fees in regards to collective bargaining, union grievances, policy
review, wage and hour, leave compliance, ADA, employee discipline/
termination. The request for this line has been increased due to
upcoming union negotiations for four successor collective bargaining
agreements (1303, Police, Dispatch, and GGA).
Expended FY25 Expended FY24 Expended FY23 Expended FY22
$39,807 $52,655 $68,772, $120,695

Total Expense
FY 2025 FY 2024
FY 2023
General Labor = Negotiations @ H&H Claims
FY 2022
FY 2021,
52040 — SERVICE CONTRACTS AND REPAIRS $1,467
Color copies ($20/month) $ 240.00
Lease fee for copier ($77.23/month) $ 927.00
Copier overage fees ($25/month) $ 300.00
Expended FY25 Expended FY24 Expended FY23 Expended FY22_|
$1,112 $1,255 $1,167 $1,268
52050 ~ DUES, CONFERENCES, EDUCATION $759
SHRM annual dues for Director (see attached) $299.00
CT Business & Industry Assoc. (CBIA) Yearly HR Conference $320.00
(see attached example)
Human Resource Leadership Assoc (HRLA) Workshops $140.00
$35 x 4 workshops (see attached example)
Expended FY25 Expended FY24 Expended FY23 Expended FY22
$199 $455 $420 $503
52070 — REIMBURSABLE TOWN EXPENSES $250
Refreshments for interview panels and workshops
Expended FY25 ExpendedFY24 | —_Expended FY23 Expended FY22
Cc $90 $136 $0 $99

$512 $454 $492 $431
52300 - TRAINING $6,954
Local GovU on-line training for OSHA required trainings $5,754
and other required industry trainings for Town employees
(200 users @ $28.77/user). (see attached Lexipol proposal)
Trainings for Department Heads in areas such as leadership, $1,200
supervision, sexual harassment, diversity and cultural
competence.
Expended FY25 Expended FY24 Expended FY23 Expended FY22 _
$6,395 $3,834 $2,765 $195
52570 — EMPLOYEE ASSISTANCE PROGRAM $4,815
This program provides diagnostic assessment, counseling and referrals
for employees and their families. Three sessions are free of charge.
Additional sessions can be covered by employee's health insurance.
Supervisory referrals are a useful management option as well. Cost is
based on 202 full-time employees @ $23.84 per person. (see attached
estimate from Solutions EAP)
Expended FY25 Expended FY24 Expended FY23 Expended FY22
$4,500 $2,471 $2,119 $1,991
53020 — LI $1,050
Safety and risk management materials $500.00
Drug and Alcohol Clearinghouse Yearly CDL queries: $ 50.00
40 queries x $1.25/query
Office supplies: includes items not provided by the $500.00
Finance Dept: labels, pocket folder, index cards,
badge sleeves, lanyards
Expended FY25 Expended FY24 Expended FY23 Expended FY22
$423 $15,038* $899 $128
* During FY 24, $14,395.77 was expended on wellness funds to be reimbursed by Anthem/Carelon. The Town
received full reimbursement in FY25 and funds were posted to the “miscellaneous revenue” line.

Expended FY25 Expended FY24 Expended FY23 Expended FY22
$0 $0 $0 $0
GRAND TOTAL 
$256,477

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Payment method: Auto-Pay
Bill to:
| Total amount: 392.05 USD
Town of Waterford \ " U |
15 Rope Ferry Rd, Waterford, CT 06385
Waterford, Connecticut 06385
Invoice Summary
‘August 2025 Sponsored Jobs on Indeed.com 392.05 USD
et armount 392.05 uso
Tax Total 
0.00 usp.
es J.
Understanding your invoice
392.05 uso
* Learn more about how billing works at our Help Center.
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Page,

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‘otal Amount Paid
Contract #
Job Title
Start Date
Salary Range
Min, Education
Job Category
City
Web Site
Job Description
45097
$150.00
1638
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‘$9000.00 - $1500.00
Waterford
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a ee
{ CAUTION: This email originated from outside of the organization, 1
{, Do not elick links or open attachments unless you recognize the sender's email address and know the
| content is safe, 4
ee ee et
Good morning, Christine,
‘Thank you for reaching out. The next billing cycle includes a 5% increase. I’ve attached a quote document for
the FY27 contract term (7/1/26-6/30/27)..
Please let me know if you have any questions or need any additional information.
Best regards,
Registration for 2025 Connect Conference is now open!
Christy Russell
Customer Success Manager
For Support contact 844-312-9500, Option #2
Phone: 469-553-0657
Email: crussell@lexipol.com
{/LEXIPOL
Policy | Training | Accreditation
Wellness | Grants | Industry News
From: Christine Walters <cwalters@waterfordct.org>
‘Sent: Friday, October 31, 2025 9:40 AM
To: Christy Russell <crussell@lexipal.com>
‘Subject: 17698 Town of Waterford
Good Morning,
will be starting to work on my FY27 budget which is due 12/10/25. Could you please send me a quote for the contract
term 7/1/26-6/30/27? Attached is the one | received for FY26, | need to find out if the cost will be the same or if it will
be increased.

@ Warerford
CONNECTICUT
PRIVILEGED AND CONFIDENTIAL: This communication, including attachments, is for the exclusive use of addressee and may contain
proprietary, confidential or privileged information. If you are not the intended recipient, any use, copying, disclosure, dissemination
or distribution is strictly prohibited. if you're not the intended recipient, please notify the sender immediately by return email and
delete this communication and destroy all copies.

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200 | LocalGovU Full Library $0.00 $5,754.00
Discount: $0.00 Subtotal: $5,754.00
Discount: $0.00
‘Subtotal: $5,754.00
Tax:
Total Due: $5,754.00

CAUTION: This email originated from outside of the organization.
‘Do not click links or open attachments unless you recognize the sender's email address and know the {
content is safe.
ee eee ee ee ee et
Hi Christine,
| would estimate an annual rate of $4,815 for FY27.
Thank you,
Christine Cowan, MBA Chief Financial Officer
‘CCowan@ABHCT.com
Advanced Behavioral Health
ABH 213 Court Street, Middletown, CT 06457
; (860) 704-6177 ABHCT.com
This communication, including attachments, is for the exclusive use of the addressee and may contain proprietary,
confidential, or privileged information. Also, the confidentiality of the information contained in this e-mail, including any
attachments, may be protected by Federal and Connecticut State Laws. If you are not the intended recipient, any use,
copying, disclosure, dissemination or distribution is strictly prohibited. If you are not the intended recipient, please
notify the sender immediately by return e-mail and delete this communication and destroy all copies. Thank you.
From: Christine Walters <cwalters@waterfordct.org>
Sent: Thursday, October 23, 2025 1:14 PM
To: Christine Cowan <ccowan@abhet.com>
‘Subject: Town of Waterford - FY27 Rate Request
Good Afternoon,
1am currently working on my Department's FY27 budget which is due by 12/12/25. Would you be able to provide me
‘with a proposal that shows what the cost will be to continue our EAP services for the period of 7/1/26-6/30/27. Also,
our number of full-time employees has increased to 202,
‘Thank you!
Christine Walters
Director of Human Resources

PRIVILEGED AND CONFIDENTIAL: This communication, including attachments, is for the exclusive use of addressee and may contain
proprietary, confidential or privileged information. If you are not the intended recipient, any use, copying, disclosure, dissemination
‘r distribution is strictly prohibited. If you're not the intended recipient, please notify the sender immediately by return email and
delete this communication and destroy all copies.

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established by the RTM to address the Town’s unfunded pension liability.
Fiducient Advisors manages the investment of the trust fund contributions and provides quarterly
performance reviews—which, to date, show that return targets are consistently met. Our actuarial firm,
USI Consulting Group, provides biennial valuations of each trust’s accrued unfunded pension liability,
which must be reported on all Town financial statements and calculated following guidelines issued by
‘the Governmental Accounting Standard Board (GASB). The firm also provides the annual required
contribution needed to cover current-year costs and chip away at the unfunded pension liability.
BUDGET SUMMARY
‘The proposed FY27 budget total of $8,301,874 represents a 15.30% increase over FY26.
51930 HEART/HYPERTENSION BENEFITS
The Town is currently paying benefits to three individuals (one widow of a former police officer, one
widow of a former firefighter, and one retired fire services employee) in accordance with judgments of
the workers' compensation commission based upon Connecticut State Statute. in addition, the Town
pays for treatment medications for several active police officers. A cost-of-living adjustment (COLA) is
provided annually in October based on information provided by USI Consulting Group.
51940 PENSION CONTRIBUTIONS
All general employees, police, and firefighters are covered by the Municipal Employees Retirement
‘System (MERS), the State-administered plan. Employees who retired prior to the Town joining MERS are
covered by the Town-administered Public Employees Retirement System (PERS) defined benefit pension
plan. This line item reflects the employer contributions required for both plans.
‘This budget line increased by 3.61% for FY27, due to an anticipated increase in the MERS contribution.
To date, the State has not released the FY27 MERS employer contribution rates, so the FY26 rates were
used to estimate projected costs. Payroll was estimated based on 2025-26 projected payroll using
staffing levels as of November 2025.
The proposed budget includes a MERS administrative assessment fee of $130 per member. The 2026-27
administrative fee of $99,970 is based on 370 active participants and 376 retirees.

51945 RETIREE HEALTH BENEFITS
This budget line is down 15.67%. The Town currently has 13 retirees who receive post-retirement
healthcare benefits. in addition, there are another 30 employees in the Over-65 classification that
receive post-employment healthcare benefits. The current GGA contract allows for a buy-out of accrued
sick-time hours in excess of 1,400 per year for deposit into a Health Retirement Account to be used by
the employee for medical costs incurred following retirement.
‘The cost of the third-party administration of the HRA has been included in this line item. The annual cost
of this excess sick-time accrual is included in the respective employee's department budget.
591.49 OTHER
POST-EMPLOYMENT BENEFITS (OPEB)
In addition to retirement, death, and disability benefits, the Town is required to fund other post-
‘employment benefits (OPEB) such as healthcare. GASB Statement 45 requires that OPEB costs be
‘recognized in the year earned (when employee is working) rather than when paid (during retirement).
In addition, the Town must record a liability (implicit rate subsidy) for retirees that remain on the
Town's plan at their own cost. The cost of similar benefits for these employees would be greater if the
retiree was not part of the group, so GASB requires the recording of the liability for the difference.
The proposed $2,433,112 OPEB budget line for Fiscal Year 2027 shows an increase of 75.61%.
This delta reflects efforts to present a zero-increase in the FY26 budget, which originally included
the actuary’s recommended $2,281,709 OPEB contribution (a 60% increase based on the latest
increase in unfunded liability). Informed of the Board of Finance's decision to use $556,754 in FY24
surplus funds to make an extra payment into OPEB, the Commission reduced the FY26 request to
$1,945,506. In May 2025, the RTM further reduced the FY26 OPEB line to $1,385,506.
As of the July 1, 2024, OPEB valuation, the Town's unfunded accrued liability is $20,902,949. The
Actuarially Determined Employer Contribution (ADEC) for FY27 is $2,818,488. If fully funded, it
would be allocated between the FY27 Retirement Commission and insurance budgets as follows:
OPEB Trust Contribution (10116-51949) 2,433,112
Retiree Health Benefits (10116-51945) 355,104
‘Over 65 Fully Insured (10112-52251) 30,373
2,818,488

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Terminated vested me
Retired, disabled and beneficiaries 6 6
Total 6 6
Covered employee payroll N/A N/A
Average plan salary N/A N/A
Actuarial present value of future benefits 746,381 717,948
‘Actuarial accrued liability 746,381 717,948
Plan assets
Market value of assets 494,695 509,200
Actuarial value of assets 488,041 554,662
Unfunded accrued liability 258,340 163,286
Funded ratio 65.4% 77.3%
Actuarially determined employer contribution (ADEC)
Fiscal year ending 2025
ADEC 22,450
Fiscal year ending. 2028 2026
‘ADEC 38,396 22,450
UsICG.COM

Retired members and dependents 168 179
Total 582 347
Covered employee payroll 31,264,486 29,029,526
‘Average plan salary 75,518 78,885
‘Actuarial present value of future benefits 36,779,727 32,284,998,
Actuarial accrued liability 34,097,347 30,074,765
Plan assets
Market value of assets 13,311,529 8,465,847
‘Actuarial value of assets 13,194,398 9,206,097
Unfunded accrued liability 20,902,949 20,868,668
Funded ratio 38.7% 30.6%
Actuarially determined employer contribution (ADEC)
Fiscal year ending 2026 2024
‘ADEC 2,804,332 2,505,310
Fiscal year ending 2025
‘ADEC 2,516,833
USICG.COM

Waterford Fire Department
15 Rope Ferry Road
Waterford, CT 06385
cgregg@waterfordct.org
RE: Waterford Bite 152-F
Dear Ms. Gregg:
‘The purpose of this letter is to advise you of the costs for the above referenced unit to participate in the Conn
Employees Retirement System (CMERS) for the fiscal year beginning July 1, 2025. The State of Conne:
‘Commission has authorized the contributions rates below to be effective forthe July 1, 2025 to June 30, 2026 fiscal year.
‘© Monthly contribution payments, as a percentage of payroll, will be as follows:
Normal Cost 8.38%
Unfunded Accrued Liability 5.74%
Total 24.12%
‘* The CMERS administrative charge ). This charge is based on $130 per active and r¢
recent files show 15 active members and 7 retired members.
member. Our most
‘The Municipal Employees Retirement System Commission approved the above total contribution rate of 24.12% at its
January 16, 2025 meeting. A copy of the June 30, 2024 actuarial valuation report can be found on the Office of the State
‘Comptroller's website at hitps://www.osc.ct.gov/rbsd/reports/index html.
If you have any questions regarding the information provided in this letter, please contact Kathryn Balut, a CMERS staff
member, at (860)702-3565.
Very truly yours,
‘THE CONNECTICUT MUNICIPAL EMPLOYEES RETIREMENT SYSTEM
BSP GLE
John Herrington, Director
Retirement Services Division

Waterford Public Schools
15 Rope Ferry Road
Waterford, CT 06385
‘egregg@waterfordct.ong
RE: Waterford Police 152-P
Dear Ms. Gregg:
‘The purpose of this letter is to advise you of the costs for the above referenced unit to participate in the Connecticut Municiy
Employees Retirement System (CMERS) for the fiscal year beginning July 1, 2025. The State of Connecticut Retirement
Commission has authorized the contributions rates below to be effective for the July 1, 2025 to June 30, 2026
fiscal year.
‘* Monthly contribution payment
asa percentage of payroll, will be as follows:
Normal Cost 8.38%
Unfunded Accrued Liability 15.74%
Total 24.12%
‘* The CMERS administrative charge is $13,520, This charge is based on $130 per active and retired member. Our most
recent files show 52 active members and 52 retired members.
‘The Municipal Employees Retirement System Commission approved the above total contribution rate of 24.12% at its
January 16, 2025 meeting. A copy of the June 30, 2024 actuarial valuation report can be found on the Office of the State
‘Comptroller's website at hitips://www.osc.ct, gow rbsd/reports/index.huml.
If you have any questions regarding the information provided in this letter, please contact Kathryn Balut, a CMERS staff
‘member, at (860)702-3565.
Very truly yours,
‘THE CONNECTICUT MUNICIPAL EMPLOYEES RETIREMENT SYSTEM.
wpe
John Herrington, Director
Retirement Services Division

Town of Waterford
15 Rope Ferry Road
Waterford, CT 06385
cgregg@waterfordct.org
RE: jin 1
Dear Ms. Gregg:
‘The purpose of this leter is to advise you of the costs for the above referenced unit to participate in the Connecticut Municipal
Employees Retirement System (CMERS) for the fiscal year beginning July 1, 2025. The State of Connecticut Retirement
‘Commission has authorized the contributions rates below to be effective for the July 1, 2025 to June 30, 2026 fiscal year.
payments, as a percentage of payroll, will be as follows:
Normal Cost 5.60%
‘* The CMERS administrative charge
recent files show 20 active members.
is charge is based on $130 per active and retired member. Our most.
ired members.
‘The Municipal Employees Retirement System Commission approved the above total contribution rate of 16.71% at its
January 16, 2025 meeting. A copy of the June 30, 2024 actuarial valuation report can be found on the Office of the State
‘Comptroller's website at htips://www.osc.ct.gov/rbsd/reports/index.htm!-
If you have any questions regarding the information provided in this letter, please contact Kathryn Balut, a CMERS staff
member, at (860)702-3565.
Very truly yours,
‘THE CONNECTICUT MUNICIPAL EMPLOYEES RETIREMENT SYSTEM.
BSP GLS
John Herrington, Director
Retirement Services Division

@
Town of Waterford
15 Rope Ferry Road
Waterford, CT 06385
cgregg@waterfordct.org
RE: Waterford Town 1S2-W
Dear Ms. Grege:
‘The purpose of this leter is to advise you of the costs for the above referenced unit to participate in the Connecticut Municipal
Employees Retirement System (CMERS) for the fiscal year beginning July 1, 2025. The State of Connecticut Retirement
‘Commission has authorized the contributions rates below to be effective for the July 1, 2025 to June 30, 2026 fiscal year.
‘+ Monthly contribution payments, as a percentage of payroll, will be as follows:
‘Normal Cost 5.60%
Unfunded Accrued Liability
Total
© The CMERS administrative charge is sis charge is based on $130 per active and retired member. Our most
recent files show 40 active members and 46 retired members.
‘The Municipal Employees Retirement System Commission approved the above total contribution rate of 16.71% at its
January 16, 2025 meeting. A copy of the June 30, 2024 actuarial valuation report can be found on the Office of the State
Comptroller's website at hitpsi//Wwww,ose.ct.govirbsd/reports/index.htm!,
If you have any questions regarding the information provided in this letter, please contact Kathryn Balut, a CMERS staff
member, at (860)702-3565,
Very truly yours,
‘THE CONNECTICUT MUNICIPAL EMPLOYEES RETIREMENT SYSTEM.
Byres
John Herrington, Director
Retirement Services Division

15 Rope Ferry Road
Waterford, CT 06385
cerege@waterfordct.org
RE: Waterford U06al 1303 152-B
Dear Ms. Gregg:
‘The purpose of ths letter isto advise you of the costs for the above referenced unit to participate in the Connecticut Muni
Employees Retirement System (CMERS) for the fiscal year beginning July 1, 2025. The State of Connecticut Retirement
Commission has authorized the contributions rates below to be effective for the July 1, 2025 to June 30,2026 fiscal year.
'* Monthly contribution payments, as a percentage of payroll, will be as follows:
Normal Cost 5.60%
Unfunded Accrued Liability
Tos cy
«Theresa amoriaon yer irs.
‘* The CMERS administrative charge is $19,630. This charge is based on $130 per active and retired member. Our most
recent files show 69 active members and 82 retired members.
‘The Municipal Employees Retirement System Commission approved the above total contribution rate of 16.71% at its
January 16, 2025 meeting. A copy of the June 30, 2024 actuarial valuation report can be found on the Office of the State
Comptroller's website at hitps:/www.osc.ct,gov/rbsd/reports/index him!
If you have any questions regarding the information provided in this letter, please contact Kathryn Balut, a CMERS staff
‘member, at (860)702-3565.
Very truly yours,
‘THE CONNECTICUT MUNICIPAL EMPLOYEES RETIREMENT SYSTEM
PSP GLE
John Herrington, Director
Retirement Services Division

15 Rope Ferry Road
Waterford, CT 0638
cgrege@waterfordct.org
RE: Waterford Cust & Main Asst 152-6,
Dear Ms. Gregg:
‘The purpose of this letter is to advise you of the costs for the above referenced unit to participate in the Connecticut Municipal
Employees Retirement System (CMERS) for the fiscal year beginning July 1, 2025. The State of Connecticut Retirement
‘Commission has authorized the contributions rates below to be effective forthe July 1, 2025 to June 30, 2026 fiscal year.
‘© Monthly contribution payments, as a percentage of payroll, will be as follows
Normal Cost 5.60%
Unfunded Accrued Liability
Total
‘+ The CMERS administrative charge This charge is based on $130 per active and retired member, Our most
recent files show 32 active members and 33 retired members.
‘The Municipal Employees Retirement System Commission approved the above total contribution rate of 16.71% at its
January 16, 2025 meeting. A copy of the June 30, 2024 actuarial valuation report can be found on the Office of the State
‘Comptroller's website at hitps://www.ose.ct gov/rbsd/reports/index.htm|.
If you have any questions regarding the information provided in this letter, please contact Kathryn Balut, a CMERS staff
member, at (860)702-3565,
Very truly yours,
‘THE CONNECTICUT MUNICIPAL EMPLOYEES RETIREMENT SYSTEM.
SEES
John Herrington, Director
Retirement Services Division

pe Ferry Road
Waterford, CT 06385
‘cgregg@waterfordct.org
RE: Waterford Paraprofessionals 1S2-N
Dear Ms. Gregg:
‘The purpose of this letter is to advise you of the costs for the above referenced unit to participate in the Connecticut Municipal
Employees Retirement System (CMERS) for the fiscal year beginning July 1, 2025. The State of Connecticut Retirement
‘Commission has authorized the contributions rates below to be effective for the July 1, 2025 to June 30, 2026 fiscal year.
* Monthly contribution payments, as a percentage of payroll, will be as follows:
‘Normal Cost 5.60%
Unfunded Accrued Liability
Total
«The CMERS administrative charge is agamarryis charge is based on $130 per active and retired member. Our most
recent files show 87 active members anc ired members.
‘The Municipal Employees Retirement System Commission approved the above total contribution rate of 16.71% at its
January 16, 2025 meeting. A copy of the June 30, 2024 actuarial valuation report can be found on the Office of the State
‘Comptroller's website at hitps.//www.osc.ct,gov /rbsd/reports/index. him}.
If you have any questions regarding the information provided in this letter, please contact Kathryn Balut, a CMERS staff
member, at (860)702-3565,
Very truly yours,
‘THE CONNECTICUT MUNICIPAL EMPLOYEES RETIREMENT SYSTEM
PSP GLE
John Herrington, Director
Retirement Services Division

15 Rope Ferry Road
Waterford, CT 06385
‘cgregg@waterfordct.org,
RE: Waterford Café R10224 152-L
Dear Ms. Gregg:
‘The purpose of this letter is to advise you of the costs for the above referenced unit to participate in the Connecticut Municipal
Employees Retirement System (CMERS) for the fiscal year beginning July 1, 2025. The State of Connecticut Retirement
‘Commission has authorized the contributions rates below to be effective for the July 1, 2025 to June 30,2026 fiscal year.
‘* Monthly contribution payments, as a percentage of payroll, will be as follows:
Normal Cost 5.60%
Unfunded Accrued Liability %
cou! Toe
‘The CMERS administrative charge This charge is based on $130 per active and retired member. Our most
recent files show 16 active member ired members.
‘The Municipal Employees Retirement System Commission approved the above total contribution rate of 16.71% at its
January 16, 2025 meeting. A copy of the June 30, 2024 actuarial valuation report can be found on the Office of the State
‘Comptroller's website at https://www.ose.ct.gov/rbsd/reports/index. him
If you have any questions regarding the information provided in this letter, please contact Kathryn Balut, a CMERS staff
member, at (860)702-3565.
Very truly yours,
‘THE CONNECTICUT MUNICIPAL EMPLOYEES RETIREMENT SYSTEM
aN ve
John Herrington, Director
Retirement Services Division

15 Rope Ferry Road
Waterford, CT 06385
‘cgrege@waterfordct.org,
Dear Ms. Gregg:
‘The purpose of this letter is to advise you of the costs for the above referenced unit to participate in the Connecticut Municipal
Employees Retirement System (CMERS) for the fiscal year beginning July 1, 2025. The State of Connecticut Retirement
‘Commission has authorized the contributions rates below to be effective for the July 1, 2025 to June 30,2026 fiscal year.
‘© Monthly contribution payments, as a percentage of payroll, will be as follows:
‘Normal Cost 5.60%
€ Unfunded Accrued Liability
Total
'* The CMERS administrative charge is $7,800. This charge is based on $130 per active and ri
recent files show 39 active members and 2! retired members.
‘The Municipal Employees Retirement System Commission approved the above total contribution rate of 16.71% at its
January 16, 2025 meeting. A copy of the June 30, 2024 actuarial valuation report can be found on the Office of the State
‘Comptroller's website at hitps:/www.osc.ct,gov/rbsd/reports/index. html.
If you have any questions regarding the information provided in this letter, please contact Kathryn Balut, a CMERS staff
member, at (860)702-3565.
Very truly yours,
‘THE CONNECTICUT MUNICIPAL EMPLOYEES RETIREMENT SYSTEM
SLES
John Herrington, Director
Retirement Services Division

15 Rope Ferry Road
Waterford, CT 06385
egrege@waterfordct.ong
‘RE: Water Local RI 161 152-H_
Dear Ms. Gregg:
‘The purpose of this leter is to advise you of the costs for the above referenced unit to participate in the Connecticut Municipal
Employees Retirement System (CMERS) for the fiscal year beginning July 1, 2025. The State of Connecticut Retirement
‘Commission has authorized the contributions rates below to be effective for the July 1, 2025 to June 30, 2026 fiscal year.
‘* Monthly contribution payments, as a percentage of payroll, will be as follows:
‘Normal Cost 5.60%
Unfunded Accrued Liability
Total
© The CMERS administrative charge rs charge is based on $130 per active and retired member. Our most
recent files show 23 active member retired members.
‘The Municipal Employees Retirement System Commission approved the above total contribution rate of 16.71% at its
January 16, 2025 meeting. A copy of the June 30, 2024 actuarial valuation report can be found on the Office of the State
Comptroller’s website at htips:/www, virbsd/reports‘index.html.
If you have any questions regarding the information provided in this letter, please contact Kathryn Balut, a CMERS staff
‘member, at (860)702-3565.
Very truly yours,
‘THE CONNECTICUT MUNICIPAL EMPLOYEES RETIREMENT SYSTEM
PSP SLE
John Herrington, Director
Retirement Services Di

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Liability (includes Auto & Property)
Life Insurance
Unemployment.
Long Term Disability
BUDGET SUMMARY
The insurance budget for fiscal year 2026-2027 represents an increase of $342,546 (6.11%) over
the prior year. Final insurance rate increases will not be known until late May, 2026. We are
budgeting at industry trend for FY2027 proposed budgets (12% for medical and 10% for
liability/property).
The Town went out to bid in the open market for the all insurance policies (workers’
compensation, liability and property) as an opportunity to review overall coverages and
premium costs. The bid resulted in the town moving all liability, property and workers’
compensation policies to Travelers. Travelers will continue to provide our insurance coverage
for the FY2027.
In July 2025, both the Town and Board of Education moved from self-funded medical insurance
coverage to fully-funded by joining the Connecticut State Partnership Plan. This move
increased benefits to employees while reducing overall costs to the Town.
5-YEAR EXPENDITURE HISTORY
4,849,536
4,755,080

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