MA H2664

Bill

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

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 the cost of living adjustment for state and teacher retirees. Public Service.

AI Summary

This bill proposes to increase the cost of living adjustment (COLA) for state and teacher retirees in Massachusetts. Specifically, it would raise the maximum COLA base amount from $13,000 to $14,000 in fiscal year 2022, $15,000 in fiscal year 2023, and $16,000 in fiscal year 2024. Additionally, the bill 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, and if the report shows the average rate exceeds the assumed rate by 2% or more, the legislature will determine if a further increase to the COLA base amount is appropriate.

Committee Categories

Labor and Employment

Sponsors (6)

Danielle Gregoire (D)*, Carole Fiola (D), Sally Kerans (D), Brian Murray (D), Tram Nguyen (D), Patrick O'Connor (R),

Last Action

Accompanied S1677 (on 02/14/2022)

Official Document

https://malegislature.gov/Bills/192/H2664

(7 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/192/H2664
Bill	https://malegislature.gov/Bills/192/H2664.pdf

Bill	Bill Name	Last Action	Type
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
S1677	Relative to the cost of living adjustment for state and teacher retirees	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S1719	To preserve the practice of including annual payments in lieu of vacation as regular compensation for current retirees and active retirement system members where such benefit existed as of May 2018	Accompanied H2732	Similar To
S1765	Relative to the cost of living adjustment for public retirees	Accompanied a study order, see S2679	Similar To
S1775	Relative to disability retirees and restoration to service	Accompanied H2799	Similar To

Bill > H2664

MA H2664

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (6)

Last Action

Official Document

bill text

bill summary

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