COLA

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

Preview of the January 2022 Voice

Preview of the January 2022 Voice
DECEMBER 10, 2021: As promised, for this week’s video I am joined by Bill Rehrey and Nancy McGovern for a sneak preview of our January 2022 edition of The Voice.
Before I dive into the details of what you will find in the upcoming newsletter, I’d like to thank the thousands of members who have promptly renewed your Mass Retirees membership for 2022. November began our membership renewal process for next year, with notices mailed to the 20,000+ members who renew at the end of the year. Members receive a renewal notice base

A 5.9% COLA

A 5.9% COLA

10/15/2021 Weekly Update, By Shawn Duhamel

If you have read our September newsletter or watched/read any of my recent weekly updates, then you know that a major focus of our ongoing work is to make improvements to the annual COLA or cost-of-living adjustment. Wednesday’s news that the CPI is now 5.9% only bolsters our argument that more needs to be done in this area.

FY22 COLA marks 23 years of increases

FY22 COLA marks 23 years of increases

APRIL 23, 2021 WEEKLY UPDATE: Before I jump into the news of the week, let me first remind you of our upcoming Tele-Town Hall event taking place next Friday, April 30th, at 1:00 PM EST. The topic will be the Public Employee Retirement Administration Commission (PERAC), with guest speaker Executive Director John Parsons. PERAC is the state agency that oversees and regulates our public retirement systems. It plays a critical role in pension policy.

FY21 STATE BUDGET SIGNED INTO LAW

FY21 STATE BUDGET SIGNED INTO LAW

December 14, 2020: Governor Baker has signed the FY21 State Budget into law. This ends the 6-month delay of a final FY21 budget and funds the Commonwealth’s operations through June 30, 2021.  

FY21 STATE BUDGET SENT TO GOVERNOR

FY21 STATE BUDGET SENT TO GOVERNOR

Includes State/Teachers’ 3% COLA & Extends Retiree Work Waiver

December 4, 2020: House and Senate leaders completed work on the $46 billion-dollar FY21 budget with both branches voting on a conference committee report in a rare Friday session. The final version now goes to Governor Baker for approval. The vote today takes us one step closer to ending the 6-month delay of a final FY21 budget.

House & Senate Negotiate FY21 Budget Differences

House & Senate Negotiate FY21 Budget Differences

$46 Billion Budget Contains State/Teachers’ COLA

NOVEMBER 23, 2020: House and Senate leaders have begun negotiations over the FY21 budgets passed by each branch of the Legislature over the past two weeks. Since the House and Senate passed differing versions of the $46 billion spending plan, a compromise final version has to be negotiated in conference committee before receiving final approval and sent to Governor Charlie Baker for his approval.

A special guest

A special guest

NOVEMBER 20, 2020: This week, our Association President Frank Valeri joins me for our weekly video update. While it’s most often my face that our members see in these weekly updates, it’s important to remember that we have a team of people here at Mass Retirees working on your behalf. In the coming months you’ll be seeing and hearing more from them on a regular basis.

3rd Interim Budget Funds State Through November

3rd Interim Budget Funds State Through November

COLA & Retiree Work Extension In-Works

October 27, 2020: Working in coordination, Governor Charlie Baker and the state legislature have passed a 3rd interim FY21 State Budget that funds the Commonwealth’s operations through November. The first interim budget was passed in late June, covering operations for the month of July. A second budget was then passed to continue operations through October.

Mass. Economic Roundtable Provides Fiscal Update

Mass. Economic Roundtable Provides Fiscal Update

3% State / Teacher COLA Remains Delayed With FY21 Budget

October 7, 2020: State officials held a special Economic Roundtable meeting today focused on the impact of the ongoing COVID-19 pandemic on the Massachusetts economy and tax revenues.

3% State / Teacher COLA Approved

Work Now Underway On Future COLA Improvements

September 2019: Since the state budget was not be approved by Governor Charlie Baker until July 31st, retired teachers will not receive their COLA payment until August – which is retroactive to July 1.

State retirees, along with members of local and district retirement systems began to receive their FY20 COLA in their July pension check. The annual COLA for local and district retirees is determined and approved by the respective retirement board and is not part of the Commonwealth’s annual budget process.