summary
Introduced
03/29/2021
03/29/2021
In Committee
03/29/2021
03/29/2021
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
For legislation relative to the cost of living adjustment for public retirees. Public Service.
AI Summary
This bill amends the Massachusetts General Laws to increase the cost of living adjustment (COLA) limit for public retirees. Specifically, it increases the COLA limit 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 annual reports with the state legislature on the average rate of return on investments, and if the return exceeds the assumed rate by 2% or more, the legislature will determine if a further increase to the COLA limit is appropriate.
Committee Categories
Labor and Employment
Sponsors (2)
Last Action
Accompanied a study order, see S2679 (on 02/10/2022)
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/192/S1765 |
| Bill | https://malegislature.gov/Bills/192/S1765.pdf |
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