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MA S1677

MA S1677
Relative to the cost of living adjustment for state and teacher retirees


summary

Introduced
03/29/2021
In Committee
02/14/2022
Crossed Over
Passed
Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

For legislation relative to the cost of living adjustment for state and teacher retirees. Public Service.

AI Summary

This bill proposes to provide additional cost-of-living adjustments (COLAs) to state and teacher retirees in Massachusetts. Specifically, it would give an additional $100 COLA to retirees with at least 15 years of retirement and an annual pension less than the system average, and an additional $200 COLA to retirees with at least 20 years of retirement and an annual pension less than the system average. The bill also allows other retirement systems in the state to accept similar provisions for their members. The additional COLAs are intended to help address the rising cost of living for long-serving retirees with lower pension amounts.

Committee Categories

Budget and Finance, Labor and Employment

Sponsors (2)

Last Action

Bill reported favorably by committee and referred to the committee on Senate Ways and Means (on 02/14/2022)

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