Demorest council approves raising retirement plan multiplier to 1.75, now finalizing ordinance

In March 2026, a Demorest City Council work session reviewed cost projections for enhancing the city's GMEBS retirement plan, showing that adding a Rule of 75 provision alone would raise payroll costs 1.67%, increasing the benefit multiplier alone would raise them 3.6%, and doing both would raise them 5.82%. At its regular meeting the same day, the council tabled the GMEBS proposal 4-0 to allow more time for review.

On April 7, the work session again went over the cost impact, noting that combining both changes would still raise annual payroll costs by 5.82%. The council again tabled the proposal 4-0 for further review.

At the May 5 work session, staff said more time was needed to complete a cost study specifically for raising the multiplier to 1.75, as requested by a council member.

By June 2, the work session was told that a 1.75 multiplier would cost the city an extra $36,000 a year starting January 1, 2027. At its regular meeting, the council then voted 4-0 to increase the retirement multiplier from 1.5 to 1.75 at that additional annual cost.

In August, the council took up a GMEBS ordinance and adoption agreement to formalize the change, and a second reading of the retirement ordinance was placed on the September 1 agenda.