PERAC Memo #23 - 2005: 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

Summary

This memo notifies boards that have accepted G.L. c. 32 §7(2)(a)(iii) (or §22D, which deems acceptance) of the annual cost-of-living adjusted supplemental dependent allowance for eligible children of accidental disability retirees, set at $629.64 per eligible child effective July 1, 2005. Boards subject to these provisions must update their benefit payments accordingly; questions should be directed to PERAC actuary Jim Lamenzo.

Full Text

Memorandum 23 /2005

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: July 20, 2005

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 $629.64 beginning July 1, 2005 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.