LOCAL COLA VOTES UNDERWAY

March 27, 2007:   In
what has become an annual ritual of sorts, the state’s 104 local retirement
systems are now voting whether or not to pay the 3% cost-of-living-adjustment
(COLA) for 2007. By law, the approved increase would take effect on July 1.

State law requires each local retirement system to hold an
annual vote on that year’s COLA payment, which currently can be no more than
3%, based on the first $12,000 of one’s pension. Since the law changed in 1998,
granting local control over COLAs, very few systems have refused the annual
increase or paid below 3%.

Currently, fifty-two local systems havre approved a full 3% COLA for FY08. None have rejected or lowered the percentage.

FY 08 Local COLA Acceptance as of 3/27/07

Adams (1/23/07)

Amesbury (1/25/07)

Arlington (1/25/07)

Athol (1/31/07)

Belmont (1/25/07)

Blue Hills (12/9/06)

Braintree (2/28/07)

Bristol Cty (1/25/07)

Brockton (2/21/07)

Cambridge (2/5/07)

Chelsea (1/25/07)

Chicopee (1/11/07)

Clinton (2/27/07)

Concord (2/27/07)

Essex Cty 
(1/31/07)

Fall River (1/24/07)

Fitchburg (1/23/07)

Franklin Cty (1/30/07)

Gloucester (1/24/07)

Gr Law San Dist (2/28/07)

Greenfield (3/26/07)

Hampshire Cty (12/21/06)

Hingham (3/15/07)

Holyoke (1/18/07)

Lawrence (1//07)

Leominster (3/21/07)

Lexington (1/22/07)

Malden (1/24/07)

Medford (1/25/07)

Methuen (1/25/07)

MHFA (12/9/06)

Middlesex Cty (2/13/07)

Milford (1//07)

Milton (1/25/07)

Montague (2/23/07)

Newton (12/13/06)

Pittsfield (2/22/07)

Plymouth (1/30/07

Quincy (1/25/07)

Reading (3/21/2007)

Shrewsbury (1/18/2007)

Southbridge (2/22/07)

Somerville (1/18/07)

Springfield (3/29/07)

Stoneham (1/30/07)

Swampscott (1/17/07

Taunton (12/20/07)

Waltham (1/18/07)

Watertown (1/22/07)

Wellesley (10/25/06)

Westfield (2/15/07)

Weymouth (2/12/07)

Winthrop (2/26/07)

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