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PENSION FUNDS STEADY RECOVERY UNDERWAY |
NOVEMBER 2009: After an unprecedented market upheaval in 2008 which saw most of our state's 106 public retirement funds lose twenty-five percent or more of their values, the recovery, which was slow earlier this year and gradual in our last report, can now be upgraded to steady and perhaps above average by the end of this year.
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STUDY COMMISSION CALLS FOR $18,000 COLA BASE |
Focus Now Turns To General CourtNOVEMBER 2009: As part of its much anticipated report, the Special Pension Study Commission calls for an improved cost-of-living adjustment (COLA) law. Specifically, it proposes that the maximum pension amount (base), on which the COLA is calculated, be raised from the current $12,000 to $18,000 in annual increments of $1,000, subject to available funding and local acceptance.
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WEP/GPO REFORM HINGE ON HEALTHCARE DEBATE |
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NOVEMBER 2009: For months the Association has been reporting that 2010 is the likely time period in which Social Security reform will be debated in Congress.
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SENIOR DRIVING RESTRICTIONS PENDING |
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NOVEMBER 2009: On September 15, the Legislature's Joint Committee on Transportation favorably released H3287, which would bring about new drivers license requirements for those age 75 and older.
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