PERAC Memo #30 - 2003: 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
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This memo notifies boards that have accepted the supplemental dependent allowance under G.L. c. 32 §7(2)(a)(iii) (or via §22D) of the updated annual COLA rate—$593.52 per eligible child—effective July 1, 2003. Boards that have accepted these provisions must apply this new amount when calculating supplemental allowances for eligible dependents of accidental disability retirees; no other action is required unless questions arise, in which case boards should contact PERAC's actuary.
Full Text
Memorandum # 30/2003
M E M O R A N D U M TO: All Retirement Boards FROM: Joseph E. Connarton, Executive Director RE: Cost of Living Increase for Supplemental Dependent Allowance Paid to Accidental Disability Retirees
DATE: September 15, 2003
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 $593.52 beginning July 1, 2003 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.