Pension costs to rise in Rochester

Sep 4, 2013

With a possible 26 percent rise in the town’s pension bill on the table, Rochester could face a steep increase in retirement costs.

Last week, Town Administrator Rich LaCamera met with the Plymouth County Retirement Board to examine options to reduce that amount.

The board is composed of 30 area towns. Joining LaCamera were municipal leaders from some of those communities.

For Rochester, a 26 percent increase would have cost an additional $100,000. After the meeting, LaCamera said  a 13 percent rise over last year’s figure was discussed. However, no decision has been made yet.

“I am extremely concerned about the proposed increase for the pension assessment,” he said. “Even if we’re talking about a thirteen percent increase that would cost eighty-thousand dollars.”

The retirement board sets the bill each year. A few communities may face increases of $1 million.

To address the issue, LaCamera said the  increased rates may be delayed by a few years. Ultimately, he said the state should assume pension liability. “In my opinion, that’s a good idea,” LaCamera said.