MA H2526

Bill

MA H2526

Relative to public retiree COLA financing

Introduced
01/23/2017

In Committee
01/23/2017

Crossed Over

Passed

Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

Relative to public retiree cost-of-living adjustment financing. Public Service.

AI Summary

This bill aims to create a "Cost of Living Reserve Fund" within the public pension system in Massachusetts. The bill defines "excess investment income" as any amount earned by the pension system's invested funds that exceeds the assumed investment return rate. It then requires that a proportional amount of this excess investment income be transferred to the new Cost of Living Reserve Fund to help finance future cost-of-living adjustments (COLAs) for public retirees. The bill establishes the parameters and purpose of this new reserve fund, providing a funding mechanism to help ensure the long-term sustainability of COLAs for public sector retirees.

Committee Categories

Labor and Employment

Sponsors (2)

Mark Cusack (D), Timothy Whelan (R),

Last Action

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

Official Document

https://malegislature.gov/Bills/190/H2526

(10 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/190/H2526
Bill	https://malegislature.gov/Bills/190/H2526.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
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
H2522	Relative to the cost of living adjustment for public retirees	Accompanied a study order, see H4654	Similar To
H2584	Relative to the cost of living adjustments for retired justices	Accompanied a study order, see H4654	Similar To
H3295	Providing retiree healthcare benefits reform	Accompanied a study order, see H4654	Similar To
H3305	To update and apply a cost of living adjustment to certain veteran's benefits	Accompanied a new draft, see H4215	Similar To
H4654	Public service	No further action taken	Replaced by
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

Bill > H2526

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (2)

Last Action

Official Document

bill text

bill summary

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