COLA

Articles about the Cost of Living Adjustment (COLA) that may be useful to Massachusetts retirees

Negotiations Continue Over FY18 State Budget

Negotiations Continue Over FY18 State Budget

3% State & Teacher COLA Awaits Final Approval

 JULY 6, 2017: Mass Retirees officials are closely monitoring developments on Beacon Hill, where House and Senate Conferees continue to negotiate the final details of the Fiscal Year 2018 State Budget.

Saugus retiree increase warranted

JUNE 15, 2017: The approval of the Saugus retiree COLA cap from the $12,000 to $14,000 was reasonable, overdue and justified because of the current financial success of the Saugus retirement system.

Saugus Town Meeting members increase pension benefits for retirees

Town Meeting members approved a cost of living adjustment that will mean more monthly pension benefits for retired town employees.

 

COLA News: Leominster at it Again!

New 5th Member Gives Hope

SEPTEMBER 2016 VOICE: Despite pleas from the Leominster Retirement Board elected members John Perry and William “Tex” Thibodeau, the Mayor’s Board appointment, David LaPlante and his appointed City Comptroller John Richard voted “No” on granting a $360 annual “COLA” increase for this year. This will be the seventh consecutive denial dating back to June, 2010 that both of these members have voted “No”.

July COLA Increases In Effect

SEPTEMBER 2016 VOICE: With next year being the 20th year of local COLAs being granted by the regional and municipal board of trustees, all of the state’s 103 local retirement boards, with Leominster being the one regrettable exception, voted for their new pension cost-of-living (COLA) effective this July. The Governor and the Legislature approved the 3% State and Teachers’ COLAs on the $13,000 base.

No Social Security COLA for 2016

Medicare Rates May Increase for Some Retirees

OCTOBER 9, 2015: A flat Consumer Price Index (CPI) means there will be no COLA increase under Social Security for 2016. The CPI-W is the federal standard used to calculate inflation.

Since 1987, a national debate has raged as to whether or not the CPI-W is an accurate gauge for retirees. Many, including our Association, feel a more accurate measure is the CPI-E (Elderly), which looks to inflationary pressures such as healthcare costs that impact retirees on a larger scale.

Bill would have state set raises for retirees

By Cliff Clark
Sentinel & Enterprise

3% COLA For State & Teacher Retirees

Treasurer Goldberg to Include Payment in July Pensions

JULY 21, 2014: Following Governor Charlie Baker’s approval of the 3% COLA for state and teacher retirees, Treasurer Deb Goldberg saw to it that the 1st payment for FY16 will be included in the July pension check.

3rd time not a charm, as Leominster board again denies pension raise for retirees

By Cliff Clark, cclark@sentinelandenterprise.com

LEOMINSTER -- The third attempt to secure an annual pension increase for city retirees failed like the first two at a meeting Tuesday morning of the city's Retirement Board.

"You ought to be ashamed of yourselves," one person shouted from a crowd of more than 50 city retirees and supporters at the board as three of its members raised their hands to deny city retirees a 1.7 percent cost-of-living increase.

Time to Refocus on COLA Base

$12,000 COLA Base Created in 1997 Amongst Heavy Opposition

July 2015 Voice: For nearly fifty years our Association has led the fight for cost-of-living benefits for public retirees. During that time several milestones have been reached, whereby COLA benefits have been incrementally increased for retirees.