PERAC Memo #37 - 1998: Cost of Living Increase for Supplemental Dependent Allowance Paid to Accidental Disability Retirees
Cost of Living Increase for Supplemental Dependent Allowance Paid to Accidental Disability Retirees
View original on MA State Library →Summary
PERAC Memo #37/1998 notifies retirement boards that have accepted G.L. c. 32, §7(2)(a)(iii) (or §22D, which deems acceptance of this provision) of the updated COLA amount for the supplemental dependent allowance paid to accidental disability retirees. Effective July 1, 1998, boards must pay $511.92 annually for each eligible child. Boards subject to these provisions should ensure payroll/benefit systems reflect this updated rate; questions should be directed to PERAC actuary Jim Lamenzo.
Full Text
PERAC MEMO #37/1998 M E M O R A N D U M TO: All Retirement Boards FROM: Joseph I. Martin, Deputy Executive Director RE: Cost of Living Increase for Supplemental Dependent Allowance Paid to Accidental Disability Retirees DATE: August 24, 1998 Any retirement system which has accepted the supplemental dependent allowance provided for in G.L. c. 32, §7(2)(a)(iii), or which has accepted the provisions of G.L. c. 32, §22D (under which the supplemental dependent allowance is also deemed to have been accepted) shall pay an annual amount of $511.92 beginning July 1, 1998 for each eligible child as defined in section 7(2)(a)(iii). Please contact PERAC’s actuary, Jim Lamenzo, if you have any questions on this issue.