Bill

Bill > H56


MA H56

An annual report of the Public Employee Retirement Administration Commission (under sections 21, 102 and 103 of Chapter 32 of the General Laws) relative to the percentum change in the average cost-of-living as shown by the United States consumer price index for the year 2016 compared with such index for the year 2015.


summary

Introduced
01/12/2017
In Committee
01/12/2017
Crossed Over
Passed
Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

Relative to the percentum change in the average cost-of-living as shown by the United States consumer price index for the year 2016 compared with such index for the year 2015. Public Service.

AI Summary

This bill provides information on the annual report of the Public Employee Retirement Administration Commission (PERAC) regarding the percentage change in the average cost-of-living as shown by the United States consumer price index for the year 2016 compared to 2015. The report states that the Social Security Administration has announced a 0.3% cost-of-living adjustment (COLA) for retirees and beneficiaries, which can be adopted by retirement systems that have accepted Chapter 17 of the Acts of 1997. The retirement boards may also elect to increase this percentage up to 3% with proper notice to the legislative body.

Committee Categories

Labor and Employment

Sponsors (0)

No sponsors listed

Last Action

No further action taken (on 01/01/2019)

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