*After BOF Regular Meeting* BOF Budget Hearing Agenda & Backup 3/12/25

PHONE: 860-442-0553
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FIFTEEN ROPE FERRY ROAD
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Waterford Town Hall Wednesday, March 12, 2025
Budget Hearing Town Hall, 9:00 p.m.
1. Call to Order
2. Public Comment
3. 10145 — Human Resources
4 10116 — Retirement Commission
5. 10112 —Insurance
6. 10108 — Legal Department
7. 10147 — Information Technology
8. Adjournment
Glenn Patterson, Chairman

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‘The Town’s Human Resources function has the responsibility to coordinate the personnel actions
in the Town in such a manner as to provide the community with efficient, economical service and
aid in staffing the general government of the town with qualified, productive personnel (Code of
Ordinances, Waterford, Connecticut 2.116.30).
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 Back:
During FY 2024, the Human Resources Department posted and/or advertised 41 open positions,
resulting in 7 promotions, 25 new full-time hires, and 9 new part-time hires. In addition, the
Department processed 119 seasonal new/re-hires consisting of 70 employees for the Recreation
& Parks Department playground program and beach staff and 49 employees for the Youth &
Family Services’ Camp DASH program.
Recruitment by Fiscal Year
50
2
x
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FY 2024 FY 2023, FY 2022 Fy 2021, FY 2020
Number of People
Promotions mNew Hires

TOWN OF V
The Human Resources Department also processed 27 retirements/resignations in FY 2024,
including the following retirements of employees who had served the Town of Waterford for
over 20 years:
HR Administrative Assistant (HR Dept): 39 years of service
Assistant Construction Inspector (Utility Commission): 37 years of service
Senior Services Assistant (Senior Services Dept): 26 years of service
Technical/Department Assistant (Library): 27 years of service
Turnover by Fiscal Year
G FY 2024 FY 2023 FY 2022 FY 2021 FY 2020
Number of People
Retirements Resignations/Terminations
As positions became open due to retirements or resignations or for any newly created positions,
the Human Resources Director, along with labor counsel and the union (if applicable), reviewed
job descriptions to ensure the duties of the position and the minimum qualifications were
accurately reflected. During FY 2024, the Human Resources Director presented 7 revised job
descriptions to the Personnel Review Board (PRB), which is the governing body that must approve
any new or revised job descriptions before they become effective.
In regards to collective bargaining, the Town of Waterford settled one contract during FY 2024:
1. Local 818 of Council #4, American Federation of State, County, and Municipal Employees
(AFSCME), General Government Administrators (GGA) Collective Bargaining Agreement
for July 1, 2023 — June 30, 2027 was ratified by the Representative Town Meeting (RTM)
on December 4, 2023.
Negotiations began in FY 2024 with the Waterford Professional Firefighters Association, Union
Local 4629 International Association of Firefighters, AFL-CIO. This collective bargaining
agreement is expected to be settled in FY 2025.

Looking Forward:
For FY 2026, the Human Resources Department anticipates another year of active recruiting
based on the trends over the last three years. As the competition to hire and retain talented
employees continues 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.
In regards to collective bargaining, the Town of Waterford will start negotiations for successor
contracts in FY 2026 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

FY 2026
BUDGET JUSTIFICATION
51110 - ADMINISTRATION $99,240
Human Resources Director
$1210 - CLERICAL/TECHNICAL $61,469
Human Resources Assistant
51910 — FRINGE BENEFITS $12,294
51920 -FICA: 7.65% of taxable wages of $160,709 = $12,294
GRAND TOTAL 51000 SERIES $173,003
52010 ~ ADVERTISING $4,400
Indeed: $300/post x 10 postings = $3,000
CCM: $150/post x 4 postings = $600
Newspaper: $400 x 2 postings = $800
Expended FY24 Expended FY23 Expended FY22 Expended FY21
$2,997 $1,661 $2,341 $2,522
02 GE $904
20 pieces per week @ $0.66 $686.40
50 certified notifications @ $4.35 $217.50
Expended FY24 Expended FY23 Expended FY22 Expended FY21
$453 $514 $558 $694
52030 ~ PROFESSIONAL FEES $70,000
Legal fees in regards to collective bargaining, union grievances, policy
review, wage and hour, leave compliance, ADA, employee discipline/
termination
Expended FY24 Expended FY23 Expended FY22 Expended FY21
$52,655 $68,772 $120,695 $68,525

Professional Fee Breakdown by Fiscal Year
$140,000.00
$120,000.00
g $100,000.00
& 580,000.00
$60,000.00 18k
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$20,000.00
&
Fy 2024 Fy 2023 Fy 2022 Fy200
"General tabor Negotiations SHBH Claims
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 FY24 Expended FY23 Expended FY22 Expended FY21
$1,255 $1,167 $1,268 $1,293
52050 — DUES, CONFERENCES, EDUCATION $874
HR Specialist Monthly Newsletter $200.00
SHRM annual dues for Director $264.00
CT Business & Industry Assoc. (CBIA) Yearly HR Conference $275.00
Human Resource Leadership Assoc (HRLA) Workshops $135.00
$45 x 3 workshops
Expended FY24 Expended FY23 Expended FY22 Expended FY22.
$455 $420 $503 $418
52070 — REIMBURSABLE TOWN EXPENSES $250
Refreshments for interview panels, workshops
Expended FY24 Expended FY23 Expended FY22, Expended FY21
$136 $0 $99 $245

52080 ~ TELEPHONE $516
Cell phone expense for Director - $42.93/month
Expended FY24 Expended FY23 Expended FY22 Expended FY21
$454 $492 $431 $0
52300 - TRAINING $6,680
Local GovU on-line training for OSHA required trainings $5,480
and other required industry trainings for Town employees
(200 users @ $27.40/user). (see attached contract)
Trainings for Department Heads in areas such as leadership, $1,200
supervision, sexual harassment, diversity and cultural
competence.
Expended FY24 Expended FY23 Expended FY22 Expended FY21
$3,834 $2,765 $195 $0
52570 ~ EMPLOYEE ASSISTANCE PROGRAM $4,500
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 191 full-time employees @ $23.56 per person. (No increase
from FY25 rate)
Expended FY24_ | _ Expended FY23, Expended FY22 Expended FY21
$2,171 $2,119 $1,991 $1,991
53020 - OTHER SUPPLIES $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 to include labels, pocket folders, index $500.00
cards, badge sleeves, lanyards
pended FY24 Expended FY23 Expended FY22 Expended FY21
$15,038* $399 $128 $751
* 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.

54010 - OFFICE FURNITURE $560
4-Drawer (legal size) Locking Filing Cabinet: 2 x $280 each
Two filing cabinets are required for archived personnel files
(example attached)
Expended FY24 ExpendedFY23__| _ Expended FY22 Expended FY21
$0 $0 [ $0 $0
GRAND TOTAL 
$264,204

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Proposal
C Prepared By: Christy Russell Quote #: Q-91488-1
Phone: (469) 553-0657 Date: 10/23/2024
Email: crussell@lexipol.com Valid Through: == 1/21/2025
Overview
Lexipol empowers first responders and public servants to best meet the needs of their residents
safely and responsibly. We are the experts in policy, training and wellness support, committed
to improving the quality of life for all community members. Our solutions include state-specific
policies, online learning, behavioral health resources, funding assistance, and industry news and
information offered through the websites Police’, FireRescue1, EMS1 and Corrections1. Lexipol
serves more than 2 million public safety and government professionals in over 10,000 agencies
and municipalities. The services proposed below are designed to meet your agency's specific
goals and needs.
QTY DESCRIPTIO PR DED
200 [LocalGovu Full Library Per User usp 27.40| — USD 5,480.00
TOTAL: | _ USD 5,480.00
Discount Notes
Notes
Page 4of4

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RETIREMENT COMMISSION (10116) =a.
BUDGET FUNCTION
The Retirement Commission is charged with the management of the retirement program for
the Town, This budget represents the Commission's estimate of the employer cost required
to fund our two retirement plans on an actuarially sound basis. These costs include our
current-year contributions required by the state and certain health benefits, as well as, annual
contributions to the two trust funds 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 Government Accounting
Standards 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 FY26 budget of $7,760,257 represents a zero increase over FY25.
‘HI TENS :NEFIT:
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.
51s TRI
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 the 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.

TOWN OF WATERFORD.
FY2026 BUDGET REQUEST
T: R REMENT
This budget line decreased by 9.53% for FY26 due to an anticipated reduction in the MERS
contribution.
To date, the state has not released the FY26 MERS employer contribution rates, so the FY25
rates were used to estimate projected costs. Payroll was estimated based on 2024-25
projected payroll using staffing levels as of November 2024. The employee contribution
rate for the fiscal year 2025-2026 is 4.75% of payroll and is provided for informational
purposes only.
The proposed budget includes a MERS administrative assessment fee of $130 per member.
The 2025-26 administrative fee of $81,120 is based on 342 active participants and 282
retirees.
The PES plan currently has 6 active participants. Effective FY24, the RTM approved a
change in benefit allowing for a minimum pension of $6,000 annually and offered a one-
‘time $5,000 bonus. An annual increase lined to the CPI-U was approved with a cap of 5%
per year. The most recent Actuarial Valuation Report determined that our PERS unfunded
Pension liability was $163,286 as of July 1, 2023. The next valuation will be determined as
of July 1, 2025.
$1945 RETIREE HEALTH BENEFITS
This budget line is down 1.87%. The Town currently has 16 retirees who receive post-retirement
healthcare benefits. In addition, another 30 employees in the Over-65 classification 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, s ick-time accrual is included in the respective employee's department
budget.
$1949 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 OPEB budget for Fiscal Year 2026 contains an increase of 35.62%.

TOWN OF WAT!
BUDGET |
As of the July 1, 2024, OPEB valuation, the Town's unfunded accrued liability if $20,902,949. The
Actuarially Determined Employer Contribution (ADEC) for FY26 is $2,804,332. If fully funded, this
contribution would be allocated between the FY26 Retirement Commission and Insurance budgets as
follows:
‘Trust Contribution (10116-51949) 2,281,709
Retiree Health Benefits (10116-51945) 421,094
Over 65 - fully insured (10112-52251) 101,529
2,804,332
In August 2024, the Board of Finance approved a transfer of FY24 Pension Contribution (51940) surplus
funds to make an additional payment of $556,754 into the Town's OPEB account (51949). With that in
mind, and with a goal of presenting a zero-increase proposed budget, the Commission reduced the FY26
OPEB trust contribution to $1,945,506.

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Srats of
Connecticut Rermemenr Services Division
OPFICE 4s STATE COMPTROLLER
165 Capitol Ave.
Hareford, CT 06106
February 29, 2024
Ms. Christy Gregg
Director of HR.
‘Waterford Fire Department
15 Rope Ferry Road.
‘Waterford, CT 06385
cgrege@waterfordct.org
‘RE: Waterford Fire 152-8
Dear Ms. Gregg:
‘The purpose of this leter is to advise you ofthe cost forthe above referenced unit to participate inthe Connecticut Municipal
Employees Retirement System (CMERS) for the fiscal year beginning July 1, 2024. The State of Connecticut Retirement
‘Commission has authorized the contributions rates below to be effective for the July 1, 2024 to June 30, 2025 fiscal year,
‘+ Monthly contribution payments, asa percentage of payroll, will be as follows:
‘Normal Cost 8.21%
‘Unfunded Accrued Liability 15.89%
Total 24.10% >
'* As stated in the Retirement Services Division letter dated June 25, 2019, Public Act No. 19-124 includes an inorease
in employee contributions to MERS in each of the six subsequent fiscal years. Therefore, effective July 1, 2024, the
‘employee contribution rates for members covered by Social Security will increase from 4.75% to 5.25%, Please note
that the employee contribution rate for wages above the Social Security Wage Base is 8.00%. ~
‘¢ Theres no annual amortization payment for prior service.
‘* The CMERS administrative charge is $2,600. This charge is based on $130 per active and retired member. Our most
recent files show 12 active members and 8 retired members.
‘The State Employees Retirement Commission approved the above total contribution rate of 24.10% al its February 15, 2024
‘meeting. A copy of the June 30, 2023 actuarial valuation report can be found on the Office of the State Comptroller's website
at hitps.//wrwrw, o1¢.ct
gov/rbed/repons/index him),
|f 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
EOS

Stare of
ConngcTicuT Retiemenr Szavices Division,
OFFICE ya STATE COMPTROLLER,
165 Capitol Ave.
Rermamuny Sanvices Hareford, CT 06106
Dear Ms. Gregg:
“The purpose ofthis 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, 2024, The State of Connecticut Retirement
‘Commission has authorized the contributions rates below to be effective for the July 1, 2024 to June 30, 2025 fiscal year.
‘¢ Monthly contribution payments, as a percentage of payroll, will be as follows:
Normal Cost 5.60%
Unfunded Accrued Liability 11.08%
Total 16.68%
As stated in the Retirement Services Division letter dated June 25, 2019, Public Act No. 19-124 includes an increase
in employee contributions to MERS in each of the six subsequent fiscal years. Therefore, effective July 1, 2024, the
‘employee contribution rates for members covered by Social Security will increase from 4.75% to 5.25%. Please note
that the employee contribution rate for wages above the Social Security Wage Base is 8.00%.
© There is no annual amortization payment for prior service.
¢ The CMERS administrative charge is $10,790. This charge is based on $130 per active and retired member. Our most
recent files show 39 active members and 44 retired members.
‘The State Employees Retirement Commission approved the above total contribution rate of 16.68% at its February 15, 2024
‘meeting. A copy of the June 30, 2023 actuarial valuation report can be found on the Office of the State Comptroller's website
at https://wwrw.cs6.ct. gov/rhad/reportstindsx html
If you have any questions regarding the information provided in this leter, please contact Kathryn Balut, a CMERS staff
member, at (860)702-3565.
‘Very truly yours,
‘THE CONNECTICUT MUNICIPAL EMPLOYEES RETIREMENT SYSTEM.
eS 9
John Herrington, Director

iS
Starz of
ConnecTicuT ‘Rermement Services Division
OFFICE ae STATE COMPTROLLER
165 Capitol Ave.
‘Rermanun Senvicss Hartford, CT 06106
Drvision
February 29, 2024
Ms. Christy Gregg.
Director of HR
‘Town of Waterford
15 Rope Ferry Road
Waterford, CT 06385,
caregs@waterfordct.ong,
‘BE: Waterford Gen Gov Admin 152-T
Dear Ms. Gregg:
‘The purpose ofthis 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, 2024. The State of Connecticut Retirement
‘Commission has authorized the contributions rates below to be effective for the July 1, 2024 to June 30, 2025 fiscal year.
'* Monthly contribution payments, 2s a percentage of payroll, will be as follows:
Normal Cost 5.60%
‘Unfunded Accrued Liability
Teal eRe
'* As stated in the Retirement Services Division letter dated June 25, 2019, Public Act No. 19-124 includes an increase
in employee contributions to MERS in each of the six subsequent fiscal years. Therefore, effective July 1, 2024, the
employee contribution rates for members covered by Social Security will increase from 4.75% to 5.25%. Please note
‘that the employee contribution rate for wages above the Social Security Wage Base is 8.00%.
© There is no annual amortization payment for prior service.
© The CMERS administrative charge is $7,020. This charge is based on $130 per active and retired member. Our most
recent files show 22 active members and 32 retired members,
‘The State Employees Retirement Commission approved the above total contribution rate of 16.68% at its February 15, 2024
meeting. A copy ofthe June 30, 2023 actuarial valuation report can be found on the Office ofthe State Compiroller’s website
et humps. ct.20v/tbsd/reporivindex hil.
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
ERE ST ES
John Herrington, Director
Retirement Services Division

Srarof
Co Rermemanr Szavices Division
ur OPPICE gfe STATE COMPTROLLER
165 Capitol Ave.
Rarimmaner Saxvices Harford, CT 06106
February 29, 2024
Ms. Christy Gregg.
Director of HR
‘Town of Waterford
15 Rope Ferry Road
Waterford, CT 06385
‘cogregg@waterfordct.ong
RE: Waterford Local 1303 152-8
‘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) forthe fiscal year beginning July 1, 2024. The State of Connecticut Retirement
‘Commission has authorized the contributions rates below to be effective for the July 1, 2024 to June 30, 2025 fiscal year.
'* Monthly contribution payments, as a percentage of payroll, will be as follows:
‘Normal Cost 5.60%
Unfunded Accrued Liability 11.08%
Total 668%:
© As stated in the Retirement Services Division letter dated June 25, 2019, Public Act No. 19-124 includes an increase
in employee contributions to MERS in each of the six subsequent fiscal years, Therefore, effective July 1, 2024, the
employee contribution rates for members covered by Social Security will increase from 4.75% to 5.25%. Please note
‘that the employee contribution rate for wages above the Social Security Wage Base is 8.00%.
‘© There is no annual amortization payment for prior service.
* The CMERS administrative charge is $18,460. This chargo is based on $130 per active and retired member. Our most
recent files show 64 active members and 78 retired members,
‘The State Employees Retirement Commission approved the above total contribution rate of 16.68% at its February 15, 2024
‘meeting. A copy of the June 30, 2023 actuarial valuation report can be found on the Office ofthe State Comptroller's website
at bitos://wwrw.osc.ct, goy/thed/reports/index him!
{If you have any questions regarding the information provided in this leter, please contact Kathryn Balut, a CMERS staff
‘member, at (860)702-3565.
‘Very truly yours,
‘THE CONNECTICUT MUNICIPAL EMPLOYEES RETIREMENT SYSTEM

State of
Connecricur RETIREMENT SERVICES Division
Cc OFFICE oe STATE COMPTROLLER,
165 Capitol Ave.
RETIREMENT SeRvices Hareford, CT 06106
Division
February 29, 2024
Ms. Christy Gregg.
Director of HR
Waterford Public Schools,
15 Rope Ferry Road
Waterford, CT 06385
carega@waterfordct.org
RE: Waterford Police 152-P_
Dear Ms. Gregg:
‘The purpose of this letter is to advise you ofthe costs for the above referenced unit to participate in the Connecticut Municipal
Employees Retirement System (CMERS) for the fiscal year beginning July 1, 2024. The State of Connecticut Retirement
‘Commission has authorized the contributions rates below to be effective for the July 1, 2024 to June 30, 2025 fiscal year.
‘* Monthly contribution payments, as a percentage of payroll, will be as follows:
‘Normal Cost 821%
Unfunded Accrued Liability 15.89%
Total j10%)
+ As stated in the Retirement Services Division letter dated June 25, 2019, Public Act No. 19-124 includes an increase
in employee contributions to MERS in each of the six subsequent fiscal years. Therefore, effective July 1, 2024, the
employee contribution rates for members covered by Social Security will increase from 4.75% to 5.25%, Please note
that the employee contribution rate for wages above the Social Security Wage Base is 8.00%.
‘© There is no annual amortization payment for prior service.
‘¢ The CMERS administrative charge is $13,000. This charge is based on $130 per active and retired member. Our most
recent files show 47 active members and $3 retired members.
‘The State Employees Retirement Commission approved the above total contribution rate of 24.10% at its February 15, 2024
meeting. A copy of the June 30, 2023 actuarial valuation report can be found on the Office of the State Comptroller's website
lindex.himl,
If you have any questions regarding th
member, at (860)702-3565.
formation provided in this letter, please contact Kathryn Balut, a CMERS staff
Very truly yours,
‘THE CONNECTICUT MUNICIPAL EMPLOYEES RETIREMENT SYSTEM
PSP STS
John Herrington, Director
Retirement Services Division

Stare of
Connecticut
SD
Rermenonyr Szavices:
Division
Rurinemmyr Szavicts Diyisron
OFFICE ¢de STATE COMPTROLLER
165 Capitol Ave.
‘Hareford, CT 06106
February 29, 2024
Ms. Christy Gregg,
Director of HR
Waterford Public Schools
1s Road
Wass Cr 00n8s
eprege@waterfordctorg
‘BE: Waterford Nop-union Educ 152:$
Dear Ms. Gregg:
‘Tie purpose ofthis letter is to advise you ofthe costs for the above referenced unit o participate inthe Connecticut Municipal
Employees Retirement Sagem (CMERS) forthe fiscal year beginning July 1, 2026. The State of Connecticut Retirement
‘Commission has authorized rates below to be effective forthe Iuly 1, 2024 to June 30, 2025 fiscal year.
‘+ Monthly contribution payments, as a percentage of payroll, wil be as follows:
‘Normal Cost 5.60%
Unfunded Accrued Liability 11.08%
E Total ass)
© As-stated in the Retirement Services Division letter dated June 25, 2019, Public Act No. 19-124 includes an increase
{n employee contributions to MERS in each ofthe six subsequent fiscal years. Therefore, effective July 1, 2024, the
employee contribution rates for members covered by Social Security will increase from 4.75% to 5.25%. Please note
that the employee contribution rate for wages above the Social Security Wage Base is 8.00%.
There is no annua! amortization payment for prior service,
* The CMERS administrative charge is $8,060. This charge is based on $130 per active and retired member. Our most
recent files show 39 active members and 23 retired members.
‘The State Employees Retirement Commission approved the sbove total contribution rate of 16.68% at its February 1S, 2024
meeting. A copy of the June 30, 2023 actuarial valuation report can be found on the Office ofthe State Comptroller's website
ny
{f you have any questions regarding the information provided in this letter, please contact Kethryn Balut, a CMERS staff
‘member, at (860)702-3565.
Very truly yours,
‘THE CONNECTICUT MUNICIPAL EMPLOYEES RETIREMENT SYSTEM
BY: Oe?
John Herrington, Director
Retirement Services Division

“Pers
in ACTUARIAL VALUATION REPORT:
‘TOWN OF WATERFORD RETIREMENT PLAN ¢
‘Active employees ° °
Terminated vested members ° °
Retired, disabled and beneficiaries 6 Zz
Total 6 7
Covered employee payroll N/A N/A
‘Average plan salary N/A NA
‘Actuarial present value of future benefits 717,948 786,000
‘Actuarial accrued lability 717,948 786,000
Plan assets
Market value of assets 09,200 639,050 €
‘Actuarial value of assets 554,662 587,576
Unfunded accrued ability 163,286 198,424
Funded ratio 77.3% 74.8%
Actuarially determined employer contribution (ADEC)
Fiscal year ending 2025 2023
‘ADEC 22,450 27,280
Fiscal year ending xe 2024
ADEC 227450 27,280
Hooker & Holcombe, now part of USI Consulting Group | HHCONSULTANTS,COM | USICG.COM :

OPER
ACTUARIAL VALUATION REPORT
‘TOWN OF WATERFORD OPCB PLAN
Executive Summary
July 1, 2024 July 4, 2022
Number of members
‘Active members a4 368
Retired members and dependents 168 179
Total 582 547
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, 2,508,310
Fiscal year ending 2027 2025
ADEC 2,818,488 2,516,833
USICG.COM

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TOWN OF WATERFORD
12026 BUDGET REQUES
DEPARTMENT: INSURANCE (10112)
BUDGET FUNCTION
The Town of Waterford is responsible for providing a variety of insurance coverage for both its
employees and town departments.
Health Insurance
Workers’ Compensation
Liability (includes Auto & Property)
Life Insurance
Unemployment
Long Term Disability
ec ccee

TOWN OF WATERFORD
FY2026 BUDGET REQUEST
DEPARTMENT: INSURANCE (10112)
BUDGET SUMMARY
FY 2025-2026
The insurance budget for fiscal year 2025-2026 represents an increase of $1,142,379 (23.02%)
over the prior year.
In the Spring of 2022, the Town went out to bid in the open market for the FY2023 policies as
an opportunity to review overall coverages and premium costs. The bid resulted in the town
‘moving to all liability, property and workers’ compensation policies to Travelers. Travelers will
continue to provide our insurance coverage for the FY2026.
O

TOWN O
FY2026 BUDGET REQI
___DEPARTMENT: INSURAN
ADDITIONAL MEDICAL INSURANCE
INFORMATION
The Town of Waterford has a Self-Funded plan for its employee health benefits. This is a type
of plan in which an employer takes on most or all of the cost of benefit claims. The insurance
‘company manages the payments, but the employer is the one who pays the claims. The
proposed budget is an estimate of what our annual medical claims are forecasted to be.
The Town also purchases Stop-loss insurance (also known as excess insurance). This insurance
is a product that provides protection against catastrophic or unpredictable losses. It is
purchased by the town to lessen the liability for large losses arising under our self-funded plan.
Under a stop-loss policy, the insurance company becomes liable for losses that exceed certain
limits called deductibles. The Town's stop/loss is $175,000 per individual.
Our proposed FY26 Healthcare budget also includes a Risk Corridor amount. We define risk
corridors as the risk or possibility of our projected claims being higher than projected. We budget 25.5%
of the anticipated claims to act as our insurance policy to offset any possible risk of the claims coming in
higher than anticipated.

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TOWN OF WATERFORD
HEALTH INSURANCE FUND ANALYSIS
2025-2026 FISCAL YEAR BUDGET
Trew DESCRIPTION. TOWN BD OFED TOTAL NOTES
Projected percent of expenditures 33.52% 66.48%] 100.0%
1_ expected paid claims for contract period @100% | $ 4,135,610 $ 8,202,130 | $12,337,740 [projection THRU NOV 24
2 [Administrative Fees/Network Access Fees S___S4755|$ 108,596 | $ 163,351 [Projection Fv 28
3 [Stop toss Te19,301 [$3,211,550 | $ 4,830,851 [Projection FY 25
Note: includes ISL at $175K and ASL ot 125%
[Estimoted Stop Loss Excess 3 “Is ag 2
4_|pcon $ 144s | $ 2e6s|s 4,310
3 TOTAL 2024-25 PROJECTED EXPENDITUR SBiiaii] 914525141] $17,336,252!
Premiums to be collected from COBRA and "OtherTM
6 [participants s__134787|$ 292,614 | $ 428,593 |from HR
7_ employee Premium shares $699,358 | 1,561,226 | $_ 2,553,530 |from HR and BOE finance
[Due From Sewer Enterprise Fund $355,263 ofa | $ 295,345 [from HR
matches retirement
9 |bue From Town Retirement Budget 101,529 nfa__|$__ 101529 budget #
10__|Due From Employer Share Food Service ta |$___ 147,197 [§ 147,197 |from BOE finance
11 [Due From Employee Share Food Service t/a [$34,761] $§ 34,761 |from BOE finance
12 [Due from Teachers" Retirement n/a [$103,344 | $103,344 [from TRB
13 [Projected investment Earnings/Miscellaneous 3 2500 $ 2,500[$ 5,000
E= ‘TOTAL PROJECTED FUNDING OFFSETS| $1,293,437 | $ 2,341,642 [$ 3,669,299
T7_ [TOTAL PROJECTED EXPENDITURES $4517,674| $9,383,499 | $13,666 953
[FUND BALANCE PROJECTION
fas [Fund Balance as of 06/30/2028 $_asies61 [$3,003,025 |$ _4517,186
[CURRENT YEAR ESTIMATED
19 |amoritzation of Fund Batance FY 2024 $__(168,512)] _($334,209)|__($502,721)]ased on Budget for 2025
20_| ESTIMATED Fund Balance as of 06/30/2025 313456495 206816 |$ 4,014,465
2i_[Risk Corridor @ 25.5% of tine 1 7.054581 | $ 2,091,543 |$ 3,146,124
22_|Fund balance over Risk Corridor S__291,068|$ 577,273 (5 668,341
JAmortization of Fund balance over/{under) Risk
23 |corridor (Line 22 above) 97,023 192,428|$ 289,447
24_[Total Funding Offsets and Funding Requirement 4an05i | 9,393,075 | 13,611,726
25_ [Transfer to Healthcare Fund (Line 15 “Line 19) G20 651 | §__9191,075 | $ 13,611,726
Per estimate provided by
26_|Payments in Liew of insurance $s 22,000|§ 2,750 29,750 |keren
27 [Services of Agent of Record S__15,08a|$ 29,916 | $ 45,000 [Assuming no increase
Per estimate provided BY
28_|HsA Contribution $__ 252,000]$ 540,890 |$__ 792,890 |Karen and Christine
3, |Health Insurance Appropriatlon-2025-2026 34703735 | 59765631 | 5 14 479,366
30__|Appropriated 2024-2025 Budget 3 _354a058| $7,807,026) $11,351,084
(CC Ft finrease/ioecresse) 1,165,677 | 1,962,605 3,128,282
32 [Percent increase/Decrease 32.89%, 25.14% 27.56%

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