July Pension COLA Looks Good

MAY 2004
- So far, it's been smooth sailing for a state and teacher retirees' 3%
July pension COLA. Language for the COLA was included in the FY05 state
budget filed by Governor Romney in January. House Leaders are now
preparing to act on the budget, which takes effect July 1. We have been
assured that the COLA will remain intact when the budget is passed by
the House, and we are optimistic that Senate leaders will support the
COLA in that branch.

At the local
level, by April 1, 55 city, town, county and regional retirement boards
had voted for 3% July COLAs. We expect most of the remaining boards to
be voting in April or May.

Under our
COLA law, boards have the option of voting for the latest consumer
price index increase of 2.1%, or another figure up to 3%. However, we
are confident that all boards will vote for 3% on behalf of their
retirees and survivors.

Updated -- as of May 10 -- the following 75 boards have voted for 3% July COLAs:

1. Adams (2/24)
2. Amesbury (2/26)
3. Athol (4/1)
4. Belmont (3/29)
5. Braintree (2/24)
6. Barnstable Cty (3/23)
7. Blue Hills (3/30)
8. Boston (5/10)
9. Bristol Cty (3/25)
10. Brockton (2/27)
11. Cambridge (4/7)
12. Chelsea (2/26)
13. Chicopee (3/11)
14. Clinton (3/30)
15. Dukes Cty 2/3
16. Easthampton (3/25)
17. Essex Reg (1/28)
18. Everett (2/25)
19. Fairhaven (2/23)
20. Fitchburg (3/18)
21. Framingham (5/27)
22. Franklin County (3/25)
23. Gloucester (3/17)
24. Greenfield (2/23)
25. Hampshire Cty (2/26)
26. Haverhill (3/25)
27. Hingham (2/26)
28. Holyoke (2/18)
29. Lawrence (2/24)
30. Lexington (2/25)
31. Leominster (3/23)
32. Lowell (3/26)
33. Lynn (4/30)
34. Marlborough (3/29)
35. Maynard (2/26)
36. Medford (12/23)
37. Melrose (2/25)
38. Methuen (2/26)
39. MHFA (4/13)
40. Middlesex Reg (3/25)
41. Milford (3/24)
42. Milton (3/25)
43. Minuteman Reg
44. Montague (2/24)
45. Natick (3/31)
46. Needham (2/25)
47. New Bedford (3/25)
48. Newton (1/21)
49. Norfolk County (3/31)
50. North Adams (3/22)
51. Northbridge (4/21)
52. Norwood
53. Peabody (4/13)
54. Pittsfield (2/19)
55. Plymouth (3/23)
56. Plymouth Cty (1/20)
57. Reading (4/29)
58. Salem (2/26)
59. Saugus (4/1)
60. Shrewsbury (3/12)
61. Somerville (4/29)
62. Southbridge (3/26)
63. Springfield (2/24)
64. Taunton (3/24)
65. Wakefield (4/15)
66. Watertown (2/20)
67. Webster (2/25)
68. Wellesley (3/31)
69. West Springfield (3/5)
70. Westfield (2/19)
71. Weymouth (3/30)
72. Winchester (3/16)
73. Winthrop (3/26)
74. Woburn (3/29)
75. Worcester (3/18)
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