Weston Finance Committee Reviews Pension Costs, Hears Case Estates Garden Funding Request

WESTON -- February 15, 2023, Weston Finance Committee reviews pension surge and hears Case Estates garden study request. The committee, chaired by Bharath Venkataraman, was told Wednesday that Weston's Middlesex Retirement assessment is rising 9.9 percent, a $623,457 increase, as the county system targets full funding by 2036, four years ahead of the state's 2040 deadline. Town Treasurer Susan Kelly reported the OPEB trust fund has grown to roughly $32 million in assets but faces a total liability estimated at $83 million as of the last actuarial study. On health insurance, Town Finance Director Lisa Yannakakis confirmed the town's HMO premium share will drop to 82.5 percent in fiscal year 2024, the final step under the current Public Employee Committee agreement. Former Select Board member Michael Harity and co-applicant Nina Danforth asked the committee to support a $25,000 CPA feasibility study for the dormant Case Estates Rhododendron Garden, estimating a full restoration could cost as much as $300,000; Weston 300 has already pledged $5,000 of the study cost.