COLA

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

Four Boards Change July '03 COLA Vote

MARCH 2004
- Increase Retirees' COLA To 3% - A reconsideration vote by four retirement boards, that had earlier
voted for 1.4% July '03 consumer price index (CPI) COLAs for their
retirees, resulted in three of these boards voting for retroactive 3%
COLAs and a fourth board voting for 3% beginning in January.

Medford Votes First On July COLA

MARCH 2004
- Three Other Boards Quickly Follow - Medford's Retirement Board wasted no time in voting for a July 2004
3% COLA, becoming the first board in the state to take this action.

North Attleboro Reverses Cola Vote

JANUARY 2004
- Retirees Receive Three-Percent - After a June vote for a 1.4% July COLA for their retirees, the North
Attleboro Board has changed their minds and members are now receiving
3% COLAs.

Pension COLA Base To Be Studied

JANUARY 2004
- Public Service Committee Acts - In a move that breathed new life into our efforts to raise the base
upon which the annual pension cost-of-living adjustment (COLA) is
applied, the Joint Committee on Public Service has commissioned an
in-depth study of the subject.

Beverly Is Last Board To Vote COLA

NOVEMBER 2003 - Beverly's Retirement Board voted on July 31 to pay a three-percent COLA to its retirees. The vote was retroactive to July 1.

The
vote by the Beverly Board brought the total number of boards that voted
for 3% to 101 of 106 boards. As reported earlier, four Boards -
Easthampton, North Attleboro, Gardner and Peabody voted for 1.4% COLAs,
and Somerville voted for a 2.5% COLA.

Gardner Retirees Lose Heated COLA Battle

SEPTEMBER 2003
- One Community's Tale Of Courageous Struggle - It was the hottest day of the year and a large group of Gardner
retirees were even hotter on June 27 when the Gardner Retirement Board,
by a 3-2 vote, rejected their request for a 3% July COLA.

Worcester Reverses COLA Vote

SEPTEMBER 2003
- Pension Bonding Muddies Water - In the aftermath of the lagging financial markets, the city of
Worcester Retirement Board has reversed an earlier vote, taken in late
June, that would have restricted this year's Cost-of-Living-Adjustment
(COLA) to 1.4%.

Local Boards Deliver 3% COLA

SEPTEMBER 2003
- Members Express Appreciation For Support - Despite a few recalcitrants, the overwhelming majority of our 104
five-member local retirement boards voted unanimously for new three
percent cost-of-living adjustments (COLA) beginning with this July's
pension checks.

Legislature Overrides Governor's COLA Veto

SEPTEMBER 2003
- Romney Says Veto Was Internal Snafu - It was a wrong move that could have proven disastrous for state and
teacher retirees. In what can at best only be described as a lapse in
judgment, Governor Mitt Romney vetoed the 3% cost-of-living adjustment
(COLA) for retired state employees and teachers.

State, Teacher 3% July COLA OK

JULY 2003
- Focus Now On Local Boards - With the House, Senate and Governor agreeing on a 3% July COLA for
state and teacher retirees, our attention is now focused on the 104
local retirement boards which vote individually on the COLA.