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PERAC Memo #23 - 1998: COLA

COLA

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Summary

This memo lists retirement systems that have accepted Section 103 (Chapter 32) and/or voted to grant a FY99 COLA, and clarifies that both the board and legislative body must adopt Section 103, followed by a separate board vote to grant the COLA, all completed before July 1, 1998. It also confirms that retirees whose retirement date was on or before June 30, 1997 remain COLA-eligible even if their first payment was received after that date. Boards that have taken these actions but not yet notified PERAC should do so immediately, and boards should verify their system's status against the attached listing.

Full Text

PERAC MEMO #23/1998 M E M O R A N D U M TO:All Retirement Boards FROM:Robert F. Stalnaker, Executive Director RE:COLA DATE:June 11, 1998 Attached please find a listing of the systems that have notified PERAC of the acceptance of section 103 of Chapter 32 as well as those systems that, in addition to that acceptance, have decided to grant a COLA in FY99. In the event your system has taken such action or actions, but has not yet notified PERAC, please do so as soon as possible. It should be noted, that in order for a COLA to be granted, the retirement board and the “legislative body” must adopt section 103 and following that adoption the retirement board must separately vote to grant a COLA. These actions must be completed prior to July 1, 1998 in order for a COLA to be granted in FY99. Recently we have received an inquiry relative to eligibility for the FY99 COLA. Specifically, a question has arisen as to whether a person with a retirement date on or before June 30, 1997 may receive a COLA in FY99 in spite of the fact that the first payment to the retiree was received after June 30,1997. It is our view that such an individual is eligible to receive a FY99 COLA. I hope this is helpful to you and if you have any further questions or comments, please contact us.

ACCEPTANCE OF CHAPTER 17 of the ACTS OF 1997 Revised through 6/10/98 RETIREMENT BOARDDATE ACCEPTANCE RECEIVED DATE OF FY’99 COLA ACCEPTANCE

  1. Amesbury5/15/98
  2. Andover6/3/986/3/98
  3. Attleboro6/2/986/2/98
  4. Barnstable County6/5/98
  5. Belmont5/8/98
  6. Blue Hills Reg. Voc. School District 2/25/98
  7. Boston 12/24/97
  8. Bristol County 1/14/98
  9. Brockton2/18/98
  10. Chicopee4/16/98
  11. Clinton5/1/985/13/98
  12. Concord6/2/986/2/98
  13. Dedham4/24/985/5/98
  14. Dukes County 9/15/97
  15. Essex County3/6/98
  16. Everett4/24/98
  17. Fairhaven6/9/98
  18. Fall River4/13/984/29/98
  19. Franklin County 12/5/97 6/2/98
  20. Greater Lawrence Sanitary District 6/8/98
  21. Hampden County 12/5/97
  22. Lawrence6/10/98
  23. Lexington5/18/98
  24. Lowell 12/17/97 5/20/98
  25. Lynn3/12/98
  26. Marblehead5/19/98
  27. Mass Port Authority 2/10/98

RETIREMENT BOARDDATE ACCEPTANCE RECEIVED DATE OF FY’99 COLA ACCEPTANCE 28. Mass Turnpike Authority6/4/98 29. Maynard 11/24/97 30. Medford 2/3/98 5/6/98 31. Methuen4/29/98 32. Middlesex County 12/23/97 4/13/98 33. Milford6/10/98 34. Milton5/26/985/26/98 35. Montague5/12/985/12/98 36. MWRA4/21/98 37. Natick 12/23/97 5/5/98 38. Newburyport5/14/98 39. Newton 11/4/97 4/21/98 40. Norfolk County3/31/986/3/98 41. Plymouth4/30/98 42. Plymouth County2/19/98 43. Quincy 11/25/97 44. Reading5/19/98 45. Salem5/22/985/22/98 46. Somerville6/9/986/9/98 47. Southbridge3/13/985/1/98 48. Springfield3/13/98 49. Swampscott5/18/986/5/98 50. Taunton6/8/98 51. Wakefield5/11/98 52. Waltham5/29/985/29/98 53. Watertown3/2/98 54. Wellesley4/03/98 55. West Springfield6/2/986/2/98 56. Westfield3/2/984/30/98 57. Weymouth5/22/98 58. Woburn 2/13/98 59. Worcester County 11/14/97