PERAC Memo #35 - 2006: 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

Memorandum #35/2006 notifies retirement boards that have accepted G.L. c. 32 §7(2)(a)(iii) (or §22D, which deems that provision accepted) of the annual cost-of-living increase to the supplemental dependent allowance paid to accidental disability retirees, effective July 1, 2006, raising the amount to $648.48 per eligible child. Boards that have accepted these provisions must apply the new $648.48 annual rate for each eligible child going forward; a related increase for §9(2)(d)(ii) dependent benefits is covered separately in Memo #34/2006.

Full Text

Memorandum # 35/2006

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 12, 2006

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 $648.48 beginning July 1, 2006 for each eligible child as defined in § 7(2)(a)(iii).

For information on the increase to the dependent benefit pursuant to G.L. c. 32 § 9 (2)(d)(ii) see PERAC Memo # 34 / 2006.

Please contact PERAC’s actuary, Jim Lamenzo, if you have any questions on this issue.