FY16 Budget Takes Effect July 1, 2015
MARCH 4, 2015: Governor Charlie Baker has included a full 3% COLA for retired state employees and teachers in his FY16 budget proposal filed today. The COLA would be applied to a $13,000 base.
COLAs for local, county, regional and district retirees are established locally and administrated by local retirement systems. At the local level the COLA base ranges from $12,000 to $18,000 – an amount determined by the retirement board and local legislative body.