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LEGISLATURE APPROVES $16,000 STATE/TEACHER COLA BASE

Local Systems Put On Hold

July 3, 2008: The State Legislature has approved a new $16,000 COLA base for retirees of the State and Teachers’ Retirement Systems (effective this month), but has held off on a local option provision that would have allowed city, town, county, regional, and district systems to also increase the base for local retirees.

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ASSOCIATION AWAITS WORD ON COLA BASE INCREASE

JUNE 24, 2008: It does not appear that the House and Senate State Budget Conference Committee will release its FY09 state budget report this week. As members are aware, the fate of an increase to the COLA base now rests with the six-member Conference Committee and the Legislative Leadership.

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UPDATE: More Retirees May Be Eligible For Stimulus Payment:
MAY 2, 2008: When the economic stimulus package was signed by President Bush on February 13, Association staff began reviewing information, released by the Internal Revenue Service, detailing the new federal law. Based on our reading of the IRS material at that time, we believed that public retirees could not use their pension income in order to qualify for the stimulus payment.
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2008 Feb
A Glimpse of Recent Membership Meetings
Members
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NORTH ADAMS WAS TOP FUND IN '07
MAY 2008: Three local retirement boards, North Adams, Malden and Northampton, were the top three winners in our annual, unofficial, Pension Fund Investment Earnings Contest for Year 2007. 
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STATE INSURANCE INCREASES AVERAGE 6.5%

MAY 2008: Following the announcement in February that all existing health plan contracts will be extended for at least another year, the state’s thirteen-member Group Insurance Commission (GIC) approved the new health insurance rates for Fiscal Year 2009.

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Ralph White For forty years the Retired State, County and Municipal Employees Association of Massachusetts has provided retired public employees their own voice on Beacon Hill.
 
State Tax Info