COLA PAYMENTS IN JULY CHECKS

AUGUST 1, 2007: Once again, we are pleased to announce that members retired from each of the 106 retirement systems across Massachusetts did receive a 2007 COLA in their July pension check. The full 3% COLA was approved by each of the 104 local retirement boards for local retirees, as well as by the state legislature for state and teacher retirees.

In order to be eligible for the 2007 COLA, you must have retired prior to June 30, 2006. Those members retiring after that date, but prior to July 1, 2007, will receive a COLA increase in July 2008. This year’s 3% increase is applied to a base of $12,000. Association officials are now working with the legislative leadership on a plan to increase the base to a higher-level beginning in 2008. Members can learn of our progress on this issue and others of importance, in the September issue of the Voice, which will be in circulation by the week of August 20th.

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