MA H2522

Bill

Relative to the cost of living adjustment for public retirees

Introduced
01/23/2017

In Committee
01/23/2017

Crossed Over

Passed

Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

For legislation relative to the cost of living adjustment for public retirees. Public Service.

AI Summary

This bill proposes to increase the cost of living adjustment (COLA) for public retirees in Massachusetts. Specifically, it would increase the COLA base amount from $13,000 to $14,000 in fiscal year 2018, $15,000 in fiscal year 2019, and $16,000 in fiscal year 2020. Additionally, the bill requires the Pension Reserves Investment Management (PRIM) board to report annually to the legislature on the average rate of return on investments by the board over the last two years. If the PRIM board's report shows that the average rate of return exceeds the assumed rate of return by 2 percent or more, the legislature will then determine if a further increase to the COLA base amount is appropriate.

Committee Categories

Labor and Employment

Sponsors (13)

Brendan Crighton (D), Sean Garballey (D), Colleen Garry (D), Danielle Gregoire (D), Jack Lewis (D), Paul McMurtry (D), Brian Murray (D), Harold Naughton (D), Angelo Puppolo (D), Todd Smola (R), José Tosado (D), John Velis (D), Chris Walsh (D),

Last Action

Accompanied a study order, see H4654 (on 06/25/2018)

Official Document

https://malegislature.gov/Bills/190/H2522

(12 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/190/H2522
Bill	https://malegislature.gov/Bills/190/H2522.pdf

Bill	Bill Name	Last Action	Type
H1322	Relative to cost of living adjustments for retired public employees of the Commonwealth	Accompanied a study order, see H4654	Similar To
H1422	Relative to retirees of the department of corrections	Accompanied a study order, see H4654	Similar To
H1435	Relative to the veteran allowance for public retirees	No further action taken	Similar To
H1447	Relative to equitable treatment under state retirement laws	Accompanied a study order, see H4654	Similar To
H2526	Relative to public retiree COLA financing	Accompanied a study order, see H4654	Similar To
H4654	Public service	No further action taken	Replaced by
H4977	Relative to health insurance benefits for certain retirees in the town of Pembroke	Signed by the Governor, Chapter 419 of the Acts of 2018	Similar To
S1390	Relative to restoration to service	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S1400	Relative to the annual allowance for certain survivors of public retirees and employees	Bill reported favorably by committee and referred to the committee on Senate Ways and Means	Similar To
S1417	Relative to the cost of living adjustment for local retirees	Accompanied a study order, see S2491	Similar To
S1450	Relative to the cost of living adjustment for public retirees	Accompanied a study order, see S2491	Similar To
S1474	Relative to group insurance costs for certain public retirees	Accompanied a study order, see S2491	Similar To

Bill > H2522

MA H2522

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (13)

Last Action

Official Document

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