Over the past 5 fiscal years (FY22- FY26) Mass Retirees is pleased to report that local retirement systems have continued to increase their COLA Base. This is very welcome news.
For FY26 that began this past July 1, all 102 local retirement boards have approved a COLA, effective July 1, while the FY26 State Budget authorized a 3% COLA for retired state employees and teachers. Except for Peabody adopting a 2.5% COLA, a 3% will be applied to the Base amount that as the chart below shows, ranges from $30,000 to $12,000.
According to President Frank Valeri who serves on the Special COLA Commission (see p.7), “We’re also pleased to report that 19 local systems (with 5 asterisks) increased their FY26 COLA Base. For most of these systems, this was not their first Base increase.”
That’s true for the Bristol County Retirement System, whose two elected members, retired Somerset Fire Chief Steve Rivard and retired Easton Fire Captain Bill Downey, belong to Mass Retirees. “We have the distinction of being the first to implement a $20,000 COLA Base back in 2023,” according to Rivard, who also serves as the Association’s Southern District VP. “And with the combined help of all the members – its chairman, County Treasurer Chris Saunders, County Commissioner John Saunders and Seekonk Treasurer Christine DeFontes, as well as Bill and myself, we were able to up the Base again two years later.
“This July retirees and survivors saw their COLA paid on the first $22,000 of their pensions. While sustaining the system’s integrity, we’ll continue to do all we can to improve the COLA.”
Valeri continues, “But for one it was their first. I’m referring to Fall River that increased their Base from $12,000 to $14,000. This most welcome increase for the city’s retirees can, in large part, be credited to the work of the Retirement Board’s two elected members, retired Police Officer Jim Machado and retired Fire District Chief Bob Camara, who are both Mass Retirees members. “
And, thanks to all the boards and local officials who made the Base increases possible this year. As of now, there remains just one local system, Amesbury, with the ignominious distinction of still paying a COLA on $12,000.”
Finally, it’s noteworthy that over the past 4 years (July 1, 2021 to July 1, 2025), 77 local retirement systems (highlighted in red) have increased their COLA Base – 75% of the Commonwealth’s local retirement systems. The effective date for a system’s increase is indicated by the number of asterisks affixed to the system.
