Bill > H2487

This bill proposes to enhance the cost of living adjustment (COLA) for certain long-term career public retirees in Massachusetts. Specifically, it would provide an additional $100 benefit to retirees with the state employee or teacher's retirement systems who have at least 15 years of retirement and whose total annual retirement benefit is less than the system's average. For those with at least 20 years of retirement, the additional benefit would be $200. The bill also allows other local retirement systems to adopt similar provisions, with additional benefits of $100 for 15-20 years of retirement and $200 for over 20 years, subject to acceptance by the system's governing body. This is intended to provide enhanced cost of living adjustments for long-serving public sector retirees with lower retirement benefits.

Labor and Employment

https://malegislature.gov/Bills/193/H2487