Local COLA Update

MAY 2002
- As of March 30, fifty-five local retirement boards including seven
for county/regional systems had voted to pay a 3% cost-of-living (COLA)
beginning July 1. Members in these systems must have retired before
July 1, 2001 in order to receive this increase.

With
the passage of Association-sponsored legislation in 1999, local boards
can vote a COLA greater than the Consumer Price Index (CPI) up to three
percent. Even though the CPI, as used by Social Security, has been
running at less than three percent, all Boards voted to pay a full 3%
last July and we are optimistic that they will do so again this year.

Adams
Amesbury
Arlington
Barnstable County
Belmont
Beverly
Blue Hills
Braintree
Bristol County
Brockton
Brookline
Cambridge
Chelsea
Chicopee
Concord
Dukes County
Essex Regional
Everett
Fairhaven
Greater Lawrence
Haverhill
Hingham
Lawrence
Leominster
Lexington
Marlboro
Mass Housing
Maynard
Medford
Melrose
Methuen
Middlesex Regional
Milford
Minute Man Reg.
Montague
Natick
Needham
Newburyport
Newton
Norfolk County
Northampton
North Adams
Pittsfield
Plymouth
Plymouth County
Revere
Salem
Southbridge
Springfield
Taunton
Webster
Wellesley
Westfield
Weymouth
Woburn

 

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