summary
Introduced
01/22/2019
01/22/2019
In Committee
01/22/2019
01/22/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
191st General Court
Bill Summary
For legislation relative to the cost of living adjustment for local retirees. Public Service.
AI Summary
This bill amends the Massachusetts state pension law to provide a minimum annual cost-of-living adjustment (COLA) of 3% on a base amount of no less than $12,000 for local government retirees. It also prohibits local retirement boards from denying a COLA if the average investment return over the previous two years equals or exceeds the assumed rate of return for that period. The purpose of these changes is to help ensure that the retirement benefits of local government workers keep pace with the rising cost of living.
Committee Categories
Labor and Employment
Sponsors (6)
Pete Capano (D),
Carlos González (D),
Jim Hawkins (D),
Natalie Higgins (D),
Mary Keefe (D),
Jack Lewis (D),
Last Action
Accompanied a study order, see H4722 (on 05/20/2020)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/191/H2289 |
| Bill | https://malegislature.gov/Bills/191/H2289.pdf |
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