COLA

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

Hull And Chelsea Accept Cola Law

JULY 1999 - Both
Hull and Chelsea have accepted the Chapter 17 COLA law, leaving Hingham
and Easthampton as the only two retirement systems in the state whose
retirees are not eligible to receive a COLA.Hull
accepted Chapter 17 at its May 2 Town Meeting and Chelsea's City
Council accepted the statute on June 14. Hull will make a retroactive
COLA payment to July '98 and Chelsea is expected to do the same.

Association Opposes Hingham COLA Bill

MAY 1999 - Proposal Defies Contractual Rights Of Retirees - Hingham,
one of four retirement systems in the Commonwealth that have failed to
accept Chapter 17 (1997 COLA law), continues to deprive its retirees of
pension increases by insisting on seeking its own personal COLA law.

Hull Town Meeting To Vote On COLA

MAY 1999 - Hull,
one of the four remaining communities without a pension COLA provision,
will vote on the Chapter 17 COLA law at the May 2nd Town Meeting.

Four Systems Lack COLA

MARCH 1999 -
Only four communities have not accepted Chapter 17, Acts of '97, which
allows the local retirement board to pay a COLA under a state mandated
formula each year.

LEGISLATIVE FOCUS ON COLA %

JANUARY 1999 -
1.3% CPI Falls Short For Retirees - In light of recent changes in the process by which the federal
government calculates the annual Consumer Price Index (CPI), the
Association has filed legislation to allow the state’s 106 retirement
systems some latitude in establishing the annual COLA percentage.

COLA DOOR STILL OPEN

JANUARY 1999 -
Non-Accepting Systems Have Second Chance - With six months remaining in this fiscal year, only six communities
have yet to take advantage of our Association’s 1998 legislation
(Chapter 306) which will allow them to pay a 2.1% COLA retroactive to
this past July.

Brookline Accepts COLA

NOVEMBER 1998 - Finally Town Meeting Does Right Thing - Thanks
to the efforts of the Brookline Retirement Board, the number of
retirement systems, that did not accept Chapter 17 (COLA law) by the
July 1 deadline, has been narrowed from nine to eight, with still
others in the offing.

Non-Contributory Retirees Wait For COLA

NOVEMBER 1998 - Pop-up/Income Tax Exception Also Pending - They
are known as non-contribs, or non-contributory retirees. These retirees
are not members of the contributory retirement systems and are not
eligible for benefits paid for through the pension fund.

Non-Contributory Retirees Wait For COLA

NOVEMBER 1998 - Pop-up/Income Tax Exception Also Pending - They
are known as non-contribs, or non-contributory retirees. These retirees
are not members of the contributory retirement systems and are not
eligible for benefits paid for through the pension fund.

COLA Reform Now Law

JULY 1997 - After
more than a year of studies and a hard fought lobbying effort by our
Association, the Legislature passed the COLA reform bill on June 2. The
bill, S-1753, was signed into law by Governor William Weld on June 9,
1997, as Chapter 17 of the Acts of 1997.