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

July Pension COLA Looks Good

MAY 2004
- So far, it's been smooth sailing for a state and teacher retirees' 3%
July pension COLA. Language for the COLA was included in the FY05 state
budget filed by Governor Romney in January. House Leaders are now
preparing to act on the budget, which takes effect July 1. We have been
assured that the COLA will remain intact when the budget is passed by
the House, and we are optimistic that Senate leaders will support the
COLA in that branch.

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

- 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

- 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.

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

- 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

- 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

- 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

- 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.