NO CHANGE IN RETIREE HEALTH INSURANCE CONTRIBUTION
MARCH 2008: There were few surprises when Governor Deval Patrick unveiled his proposed $28.2 billion Fiscal ’09 State Budget and sent it to the Legislature on January 22. The three-percent July ’08 COLA for state and teacher retirees, as promised, was included in his budget. And, as we were earlier informed, the 10% insurance premium contribution for state pensioners, who retired prior to July 1, 1994, and 15% for those who retired after that date, will not change.
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MARCH 2008: Starting with a special study in 2004, the Association has spent the past four years moving the debate forward on raising the COLA base to a higher level. In 2005, the Public Employee Retirement Administration Commission (PERAC) recommended that the COLA base be raised from the current level of $12,000 to a new level of $16,000. The current $12,000 base was established by the Legislature nearly eleven years ago in 1997.
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Hull, Hingham Early Birds
JANUARY 2008: Retirement Boards, across the Commonwealth, will once again have the opportunity to vote 3% COLAs for their eligible retirees effective July 2008, rather than a 2.3% increase, an alternative option allowed by law.
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July COLA Paid on Schedule |
SEPT 2007 - Members of the State and Teachers’ Retirement Systems, as well as those of our 104 local retirement systems, received their new 3% cost-of-living increase this July.
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COLA BILL ADVANCES TO SENATE |
 2007 JULY - $16,000 Base Would Be Indexed -
In a bold move, the Joint Committee on Public Service favorably reported the Association’s marquis bill, raising the COLA base, to the Senate on May 14.The bill, now S2234, not only raises the COLA base for state and teacher retirees to $16,000, but also allows local retirement systems to increase the COLA base to any level above the current $12,000 by allowing for adjustments in the long-term pension funding schedules.
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COLA 
