Bill

Bill > H67


MA H67

Annual report of the Public Employee Retirement Administration Commission (under sections 21, 102 and 103 of Chapter 32 of the General Laws) relative to the percentum change in the average cost-of-living as shown by the United States consumer price index for the year 2018 compared with such index for the year 2017.


summary

Introduced
01/17/2019
In Committee
01/17/2019
Crossed Over
Passed
Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

Relative to the percentum change in the average cost-of-living as shown by the United States consumer price index for the year 2018 compared with such index for the year 2017. Public Service.

AI Summary

This bill reports on the computation of the increase in the United States Consumer Price Index (CPI-W) in the previous year, as set by the Commissioner of Social Security. The latest Cost of Living Adjustment (COLA) is 2.8%, which may be granted by retirement systems that have accepted Chapter 17 of the Acts of 1997, effective July 1, 2019. The bill also notes that retirement boards may elect to increase this percentage up to 3% with proper notice to the legislative body.

Committee Categories

Labor and Employment

Sponsors (0)

No sponsors listed

Last Action

Hearing scheduled for 10/21/2019 from 01:00 PM-04:00 PM in A-1 (on 10/11/2019)

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