COLA

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

Cola Eligibility: How It Works

JULY 2000 -
Retirees or survivors who were receiving a pension prior to July 1,
1999 are eligible for the July, 2000 COLA. Members who retired between
July 1, 1999 and June 30, 2000 will be eligible for the July 2001 COLA.

Budget Awaits Final Vote

JULY 2000 -
COLA Intact! - Keeping to their promise, the House and Senate have both included 3%
state and teacher retirees’ COLAs in their respective FY2001 state
budgets.

Welcome Back Hingham

MAY 2000 -
Hingham, which unsuccessfully attempted to enact special legislation
that would have excluded COLAs from fixed pensions, is petitioning for
retroactive acceptance of our COLA law.

D-Day For COLAs On Local Front

MAY 2000 -
D-Day for both retroactive and new 3% COLAs for local government
retirees is fast approaching, causing us to rush our May edition of the
Voice to press on April 7.

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.

Although
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.