MA H2607

Bill

Relative to public retiree COLA financing

Introduced
03/29/2021

In Committee
03/29/2021

Crossed Over

Passed

Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

Relative to public retiree cost-of-living adjustment financing. Public Service.

AI Summary

This bill amends the Massachusetts General Laws to establish a "Cost of Living Reserve Fund" for public pension systems. The bill defines "excess investment income" as the amount of investment earnings that exceed the system's assumed investment return rate, and requires a portion of this excess income to be transferred to the Cost of Living Reserve Fund. This fund will be used to meet future cost-of-living adjustments for public retirees. The bill provides a mechanism to set aside funds specifically for these future liabilities, helping to ensure the long-term financial stability of public pension systems.

Committee Categories

Labor and Employment

Sponsors (4)

Mark Cusack (D)*, Mike Day (D), Mike Soter (R), Timothy Whelan (R),

Last Action

Accompanied a study order, see H4960 (on 07/05/2022)

Official Document

https://malegislature.gov/Bills/192/H2607

(8 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/192/H2607
Bill	https://malegislature.gov/Bills/192/H2607.pdf

Bill	Bill Name	Last Action	Type
H2549	Relative to cost of living adjustments for retired public employees of the Commonwealth	Accompanied a study order, see H4960	Similar To
H2681	Relative to the cost of living adjustment for local retirees	Accompanied a study order, see H4960	Similar To
H4007	Relative to post-retirement employment of public retirees	Chapter 67 of the Acts of 2021	Similar To
H4048	Message from His Excellency the Governor returning with his objections thereto in writing the engrossed Bill relative to post-retirement employment of public retirees (see House, No. 4007). August 3, 2021	See H4007	Similar To
H4960	Public service matters	No further action taken	Replaced by
S1723	Relative to the annual allowance for certain survivors of public retirees and employees	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S1765	Relative to the cost of living adjustment for public retirees	Accompanied a study order, see S2679	Similar To
S2408	Relative to COLA adjustments for veteran benefits	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To

Bill > H2607

MA H2607

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (4)

Last Action

Official Document

bill text

bill summary

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