# Montgomery County Employee Retirement Board - November 10, 2026


**Body:** Montgomery County, PA
**Date:** November 09, 2026
**Jurisdiction:** SLED

The Montgomery County Employee Retirement Board met on November 10, 2026. The board received an investment update reporting a roughly flat third quarter and a 7% year-to-date return; the portfolio’s value was reported at $792.9 million at the end of October and about $795 million as of the prior day. The presenter described volatility in equities and challenges in fixed income, while alternatives posted positive returns. No investment or procurement action was identified in the transcript.

The board reviewed whether it could grant a retiree cost-of-living adjustment (COLA). The actuary estimated that the proposed increase would add about $16.3 million to the plan’s liabilities and lower its funded ratio from 80.2% to approximately 78%. Under Act 63 of 2015, the plan must maintain at least an 80% funded ratio, so the board was advised it could not provide the increase at this time. Members discussed explaining the statutory restriction to retirees through a communication, FAQ, or script, potentially alongside information about the new self-service portal. No procurement activity was identified.

**Source:** Montgomery County, PA