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PERAC Memo #2 - 1998: Update Of Listings Of Systems Which Have Accepted Cost Of Living Adjustments For Retirees Legislation

Update Of Listings Of Systems Which Have Accepted Cost Of Living Adjustments For Retirees Legislation

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Summary

PERAC Memo #2/1998 provides an updated list of retirement systems that have accepted Chapter 17 of the Acts of 1997, which reformed the method for granting COLAs to retirees. Boards should review the attached list to confirm their system is accurately reflected as having accepted the legislation, and contact PERAC immediately if their acceptance is not listed. Boards submitting acceptance letters must also include certified copies of the acceptance vote and relevant board meeting minutes excerpts.

Full Text

PERAC MEMO #2/1998 M E M O R A N D U M TO:All Retirement Boards FROM:Robert F. Stalnaker, Executive Director RE: Update Of Listings Of Systems Which Have Accepted Cost Of Living Adjustments For Retirees Legislation DATE:January 28, 1998 Attached is an updated list of retirement systems which have accepted the provisions of Chapter 17, of the Acts of 1997, an Act Relative To The Annual Cost Of Living Adjustments For Retirees. This statue reforms the method for granting Cost of Living Adjustments, (COLA’s) to public pension retirees in the Commonwealth. (See PERAC Memo #20/1997, dated June 12, 1997 and PERAC Memo #22/1997, dated June 16, 1997). Please review the list to ensure that your system is accurately noted as having accepted the legislation. If your system has accepted the legislation but is not reflected as having done so on the attached list, please contact this office immediately. Also, when sending in your letter of acceptance, please include certified copies of the acceptance vote and an excerpt from the minutes of the retirement board meeting when the legislation was adopted. Attachment

ACCEPTANCE OF CHAPTER 17 OF THE ACTS OF 1997 (Cost of Living Adjustments) Revised through: 1/14/98 RETIREMENT BOARDDATE ACCEPTANCE RECEIVED

  1. Dukes County 9/15/97
  2. Newton 11/4/97
  3. Worcester County 11/14/97
  4. Maynard 11/24/97
  5. Quincy 11/25/97
  6. Franklin County 12/5/97
  7. Hampden County 12/5/97
  8. Lowell 12/17/97
  9. Natick 12/23/97
  10. Middlesex County 12/23/97
  11. Bristol County1/14/98