Annual Budget Proposals

The administrative budget of the Essex Regional Retirement System (ERRS) funds the operations of the retirement system.  The retirement system operates on a calendar year budget cycle.  The budget process begins in August with the presentation to the Board of the preliminary spending plan.  In September, the Board approves a draft budget, which is then presented the Advisory Council at its fall meeting.  In December, the Board approves the final version of the budget and the new budget year begins in January.  The final, approved budget is also distributed to all chief executives of units within the retirement system as well as to the Advisory Council.

The Essex Regional Retirement Board is particularly proud of its detailed budget presentation and its transparent budget process.  In fact, in 2018, the ERRS Executive Director was selected to participate in a "Best Practices" panel by the Public Employee Retirement Administration Commission (PERAC) and the topic presented was the ERRS budget document and the retirement system's budget process. 

Please click on the link below to see the most recent final, approved ERRS budget documents.  If you have any questions regarding the budget information, please do not hesitate to contact Charles Kostro, the Executive Director at (978) 739-9151 x105, or via email at ckostro@essexrrs.org.

2024 ERRS Administrative Budget

2023 ERRS Administrative Budget