MA S1576

Bill

Relative to the cost of living adjustment for public retirees

Introduced
01/22/2019

In Committee
01/22/2019

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

For legislation relative to the cost of living adjustment for public retirees. Public Service.

AI Summary

This bill aims to increase the cost of living adjustment (COLA) for public retirees in Massachusetts. Specifically, it would raise the COLA base amount from $13,000 to $14,000 in fiscal year 2020, $15,000 in fiscal year 2021, and $16,000 in fiscal year 2022. The bill also requires the Pension Reserves Investment Management (PRIM) board to file an annual report with the state legislature on the average rate of return on investments over the past two years. If the report shows the average rate of return exceeds the assumed rate by 2%, the legislature will then determine if a further increase to the COLA base amount is appropriate.

Committee Categories

Labor and Employment

Sponsors (3)

Jamie Eldridge (D), Tram Nguyen (D), Marc Pacheco (D),

Last Action

Accompanied a study order, see S2545 (on 02/18/2020)

Official Document

https://malegislature.gov/Bills/191/S1576

(14 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/191/S1576
Bill	https://malegislature.gov/Bills/191/S1576.pdf

Bill	Bill Name	Last Action	Type
H1070	Relative to investments by fraternal benefit societies	Bill reported favorably by committee and referred to the committee on House Steering, Policy and Scheduling	Similar To
H2158	Relative to cost of living adjustments for retired public employees of the Commonwealth	Accompanied a study order, see H4722	Similar To
H2203	Increasing the minimum pension for public retirees	Accompanied a study order, see H4722	Similar To
H2232	To provide fair and affordable public retiree benefits	Accompanied a study order, see H4722	Similar To
H2952	Relative to investments in tourism and visitation marketing and promotion	Bill reported favorably by committee and referred to the committee on House Ways and Means	Similar To
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.	Hearing scheduled for 10/21/2019 from 01:00 PM-04:00 PM in A-1	Similar To
S1487	Relative to the cost of living adjustment for state and teacher retirees	Accompanied a new draft, see S2798	Similar To
S1503	Relative to the veteran allowance for public retirees	Accompanied H2346	Similar To
S1533	Relative to retirement options for retirees	Accompanied a study order, see S2545	Similar To
S1551	To increase membership in the PRIM Board	Accompanied a study order, see S2545	Similar To
S1578	Relative to post-retirement earnings of public retirees	Accompanied a study order, see S2545	Similar To
S2230	Authorizing certain investments by the treasurer of the town of Cohasset	Signed by the Governor, Chapter 12 of the Acts of 2020	Similar To
S2363	Relative to the membership of the PRIM board	Bill reported favorably by committee and referred to the committee on Senate Rules	Similar To
S2545	Order relative to authorizing the joint committee on Public Service to make an investigation and study of certain current Senate documents relative to public service issues	Reported (in part) by S1477	Replaced by

Bill

Bill Name

Last Action

Type

H1070

Relative to investments by fraternal benefit societies

Bill reported favorably by committee and referred to the committee on House Steering, Policy and Scheduling

Similar To

H2158

Relative to cost of living adjustments for retired public employees of the Commonwealth

Accompanied a study order, see H4722

Similar To

H2203

Increasing the minimum pension for public retirees

Accompanied a study order, see H4722

Similar To

H2232

To provide fair and affordable public retiree benefits

Accompanied a study order, see H4722

Similar To

H2952

Relative to investments in tourism and visitation marketing and promotion

Bill reported favorably by committee and referred to the committee on House Ways and Means

Similar To

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.

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

Similar To

S1487

Relative to the cost of living adjustment for state and teacher retirees

Accompanied a new draft, see S2798

Similar To

S1503

Relative to the veteran allowance for public retirees

Accompanied H2346

Similar To

S1533

Relative to retirement options for retirees

Accompanied a study order, see S2545

Similar To

S1551

To increase membership in the PRIM Board

Accompanied a study order, see S2545

Similar To

S1578

Relative to post-retirement earnings of public retirees

Accompanied a study order, see S2545

Similar To

S2230

Authorizing certain investments by the treasurer of the town of Cohasset

Signed by the Governor, Chapter 12 of the Acts of 2020

Similar To

S2363

Relative to the membership of the PRIM board

Bill reported favorably by committee and referred to the committee on Senate Rules

Similar To

S2545

Order relative to authorizing the joint committee on Public Service to make an investigation and study of certain current Senate documents relative to public service issues

Reported (in part) by S1477

Replaced by

Bill > S1576

MA S1576

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (3)

Last Action

Official Document

bill text

bill summary

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