09/23/26 Employees Retirement Board

The Town of Fairfield Connecticut Employees Retirement Board held a meeting on September 23, 2026, primarily to review and approve retirement benefit commencements for six employees with benefit start dates of July 1, 2026. The board discussed the types of annuities selected by retirees, including joint survivor and certain life annuities, and addressed questions about the actuarial calculations behind survivor benefits. The board unanimously approved the retirements. Additionally, the board reviewed the process for handling return of employee contributions for terminated employees, noting that Milliman sends election packets but does not send reminders if forms are not returned, potentially leaving benefits pending for decades. The board considered requesting Milliman to send a second notice within 60-90 days to improve participant outreach. There were no new business items, and the meeting was adjourned at 7:01 PM.