| State, Teacher 3% July COLA OK |
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JULY 2003
- Focus Now On Local Boards - With the House, Senate and Governor agreeing on a 3% July COLA for
state and teacher retirees, our attention is now focused on the 104
local retirement boards which vote individually on the COLA.
These boards can vote for the same 3% figure as the state, but also have the option of voting for a lower figure, or no COLA at all. As of June 1st, 85 local boards - cities, towns, counties, regions, authorities and districts - had voted for 3% July COLAs for their members. Four boards - North Attleboro, Framingham, Peabody and Easthampton - voted for 1.4% consumer price index (CPI) COLAs. The remaining 15 Boards were scheduled to vote during the month of June. One Board, Stoneham, originally voted 4-1 for a 1.4% COLA in March. However, at their April meeting, a motion for reconsideration was made, and the vote was turned around for a victory for Stoneham's retirees. Members of the four boards that opted for 1.4% COLAs have been contacted and asked to reconsider their vote, especially Peabody which was a 3-2 vote. Two other boards, Gardner and Worcester, are problematic at this time. Danger signs are up, and retirees of the Gardner and Worcester Retirement Systems are being alerted. The Worcester Board will be voting on June 19, and Gardner on June 22. "Our legislation put the COLA vote in the hands of the retirement boards, rather than city councils or Town Meeting," said Association President Ralph White. "With the $12,000 base still in effect, that means an annual COLA of no greater than $360. We've always felt that the boards, which each have two elected members, are more qualified to understand the plight of retirees and survivors." July 2003 3% COLAs Approved (As of June 1, 2003)
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