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

House, Senate Support 3% COLA

MAY 2000 -
Budget Contains Increase - Leaders of the House and Senate are doing what Governor Paul Cellucci
failed to do — include a 3% pension COLA for state and teacher retirees
in the FY 2001 state budget which takes effect July 1, 2000.

All Counties Aboard On 3% COLA

MARCH 2000 - 276 Towns Covered - As
we go to press, all county/regional retirement boards and their
governing advisory councils have accepted Chapter 127, our three
percent COLA legislation, for the fiscal year beginning last July and
are in the process of making retroactive payments to eligible members.

Pension Funds On A Roll

MARCH 2000 - Bodes Well For New COLAs - It
was another great year for the stateís pension fund. In closing out the
century with a pension fund investment earnings of 23% for the year
1999, the success of the Commonwealth's Pension Reserves Investment
(PRIT) Fund gives retirees high hopes for another three percent pension
COLA this coming July.

Looking At The Cola Through The Years

JANUARY 2000 - Original Law Passed In 1966 - As we close the door on the 20th Century, it is appropriate that we take a close look at the Commonwealth's pension cost-of-living (COLA) law and at the role that our Association has played in fostering COLAs since the inception of this law.

In fact, one might say that Chapter 32 (Pensions), Mass General Laws, has been our Association's "bible" over the past 32 years. And our "11th Commandment" during that period has been to uphold and perpetuate Section 102 (COLA) of Chapter 32.

Cola Victory Complete

Legislature Scuttles Cellucci's Veto

JANUARY 2000 - Passage
of the FY2000 state budget on November 16th has opened the door for all
eligible retirees and survivors of our 106 retirement systems to
receive a 3% COLA this year - no thanks to Governor A. Paul Cellucci.

Cellucci's signing of the budget enabled state and teacher retirees to
receive a 3%COLA in their November pension checks, retroactive to July
1999, the
governor dropped a bombshell on our Association and thousands of our
members when he vetoed budget language that would allow 3% COLAs for
retirees of our 104 local retirement systems.

North Shore Leads Cola Wave

DECEMBER 2, 1999 - Boards Quick To Grant 3% Adjustment - In
what can only be described as a token of good will, five North Shore
retirement systems have taken aggressive action to provide their
retirees with the new 3% Cost-of-Living Adjustment. Members will note
that the new COLA law allowing for a 3% COLA is contained in the FY
2000 State Budget passed last month.

COLA'99: Nears Approval

NOVEMBER 1999 - "It's
money in the bank" continues to be Association President Ralph White's
reassurance to inquiries about the 3% pension COLA promised for this
past July.

For state and teacher
retirees, the 3% will become law, retroactive to July 1, 1999 as soon
as the FY2000 state budget is passed by the House and Senate and signed
by Governor Cellucci.

Hingham Makes "One-Time" Cola Payment

SEPTEMBER 1999 - Refuses To Recognize State Law - Hingham's
Retirement Board has made a "one-time" COLA payment to its retirees.
The payment was 2.1% for the 1998 COLA and 1.3% for the 1999 COLA.

3% Cola On Hold

SEPTEMBER 1999 - No Problem: White - New
COLA payments for state and teacher retirees remain on hold while the
FY2000 (effective July 1, 1999) state budget negotiations continue
between House and Senate leaders. "However, members can be assured that
the budget delay does not present a problem," said Association
President Ralph White.

COLA Upped To Three Percent

JULY 1999 - House, Senate Come Through - Without
fanfare, the Massachusetts House and Senate have quietly delivered a
three percent pension cost-of-living increase to retired public
employees and survivors.