Living on a town pension

Almost all municipal employees who retire from service to Wilton collect a pension from the town, earning an average of anywhere from $133 to $2,814 per month depending on their job and years of employment.

The Board of Selectmen is currently deciding whether to make a cost-of-living adjustment for those earners, with an increase of 1.5% to 1.7% seeming likely.

The board made a similar adjustment in fiscal year 2014, increasing pension payments by 1.25%. That increase resulted in the town paying out $2,596 more per month to pension earners, or an overall increase of $31,000 per year.

If a 1.7% increase were approved this year, the town would pay about $43,000 more in pension payments in fiscal year 2015.

In Wilton, retired police officers collected an average of $33,768 per year in retirement in fiscal year 2013. Fiscal year 2014’s 1.25% cost-of- living increase would mean the average police earner would have made $34,190.

Board of Education retirees averaged a $9,972 pension in fiscal year 2013, while those retired from the library averaged $19,320. Firefighters averaged $31,764, town employees averaged $19,740, and school lunch workers averaged $4,560.