Breaking News

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.

MEMO TO ALL MEMBERS: COLA UPDATE

June 12,
2008
- We are now
approaching the final days of meetings between the House and Senate FY’09 State
Budget Conference Committee members. While the House and Senate earlier voted
on a new $16,000 COLA base for state and teacher retirees, subject to a final
budget vote, the House budget did not include local government retirees.
However, the Senate did unanimously vote for an amendment, which would include
retires for all of our 104 local retirement systems.

HOUSE/SENATE COMMITTEE REVIEWS COLA PROPOSAL

Association Remains Vigilant

JUNE 6, 2008: House and Senate leaders have now appointed a six-member conference committee to negotiate the differences that exist between the House and Senate versions of the FY09 state budget. The Committee consists of three members each from both branches of the Legislature.

LOCAL COLA BASE

REDRAFT LOC 81

Ms. Walsh, Ms. Jehlen and Ms. Menard and Mssrs. Morrissey, Galluccio, Timility, Hart, Pacheco and Marzilli moved that the bill be amended by deleting Section 15 and inserting in place thereof the following section:

SENATE PASSES ASSOCIATION

Agrees With House On $16,000 State/Teacher Base


May 23, 2008:
After two days of
intense lobbying and as debate on the ’09 State Budget was winding down last
night, the Senate passed the Association’s local option proposal for a new
$16,000 COLA base, as part of its version of the Fiscal ’09 State Budget. While
much still needs to be done to ensure that the proposal remains intact in the
Budget’s final version, the Senate’s action marks a major milestone in the
Association’s continuing efforts to improve the COLA for all retirees – state,
teacher and local.

Mass. Municipal Association Strikes Again

Attempt to Kill $16,000 COLA Base

May 20, 2008: The Mass. Municipal
Association – the advocacy arm of the Commonwealth’s mayors and town managers –
has struck again. This time it was an 11th hour letter to all State
Senators opposing a Senate budget amendment that would allow municipal retirees
to receive a three-percent COLA on a $16,000 base, up from the current $12,000.

CAHILL OPPOSES COLA INCREASE PROPOSAL

Cites ‘Fictitious’ Dangers To Bond Rating

MAY 15, 2008: Striking a body blow to the Association’s hopes of raising the base, to which the annual cost-of-living-adjustment (COLA) is applied, state Treasurer and Receiver General Timothy Cahill has come out against the proposed $16,000 base, passed by the House and contained in the Senate’s FY09 budget. Specifically, the treasurer, who chairs the state’s pension board, is against extending the pension funding schedule by three-years to accommodate this modest increase in the COLA base.

SENATE ENDORSES $16,000 COLA BASE

Budget Rider Includes State, Teacher and Local Retirees

MAY 14, 2008: Providing a major boost to public retirees, Senate leaders unveiled their version of the Fiscal 2009 State Budget that includes language raising the COLA base to $16,000. The three outside sections of S2600 raise the base not only for state and teacher retirees, but also allow local retirement systems to provide the same $16,000 COLA base for local retirees.

IMPORTANT COLA BASE ALERT

An amendment to raise the pension COLA base to $16,000 for state and teacher retirees was adopted by a 153-0 vote during House debate on May 2nd. The amendment, which was offered by Representative Frank Hynes (D-Marshfield), came during the final day of House debate on the FY ’09 State Budget. Because the amendment included a provision to extend the state’s unfunded pension liability payment schedule from the current date of 2023 to 2026, local government retirement systems, which have their own individual funding schedules, could not be included in Rep. Hynes’s amendment. It is important to our Association that all retirees, state and local, have the same opportunity to increase their COLA base from $12,000 to $16,000.

HOUSE PASSES 3% COLA IN BUDGET

MAY 2, 2008: As the Massachusetts House of Representatives worked to complete their annual budget deliberations, Association officials are confident that the 3% cost-of-living increase (COLA) contained within the budget is secure for 2008. The 3% increase, which takes effect in July, is applied to a maximum base of $12,000.