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COLA
Quest For Higher COLA Base Continues
SEPTEMBER 2001 - Major Challenge For Association - Our Association’s bill, H335, which would raise the current COLA base of $12,000 to $20,000 for state and teacher retirees, with the same option at the local level, remains in the Joint Committee on Public Service.
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Local Retirees Receive 3% COLA
SEPTEMBER 2001 - State, Teachers Await Budget Passage For Their COLA - For the first time since the enactment of our new 1997 COLA law, all eligible retirees and survivors of the 104 city, town, county, regional, authority and district retirement systems received a 3% pension cost of living (COLA) increase effective this July.
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Easthampton Rejects COLA, Will Vote Again
JULY 2001 - The Easthampton Retirement Board, which voted 3-2 against a July COLA, will take a second vote on June 29. Board member Mary Brewer, who voted against the COLA, has moved reconsideration, allowing the Board to vote again. It is expected that the meeting room will be packed with retirees on June 29.
 
Three Percent COLA Assured
JULY 2001 - House And Senate In Agreement - Although it may be some time before the House and Senate reach final agreement on the Commonwealth’s FY 2002 State Budget, which takes effect this July, the new 3% COLA for state and teacher retirees has been agreed upon by both branches and the governor.
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COLA Hearing Encouraging
MAY 2001 - Next Step: Cost Data - February 27 was opening day for the Joint Legislative Committee on Public Service, the first of 16 scheduled hearing dates which will conclude on June 26.
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