PERAC Memo #21 - 2013: Cost of Living Increase for Supplemental Dependent Allowance Paid to Accidental Disability Retirees and Accidental Death Survivors

Cost of Living Increase for Supplemental Dependent Allowance Paid to Accidental Disability Retirees and Accidental Death Survivors

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Summary

PERAC Memo #21/2013 announces the updated annual COLA amount for the supplemental dependent allowance—$797.64 per eligible child, effective July 1, 2013—applicable to accidental disability retirees and accidental death survivors under G.L. c. 32, §§ 7(2)(a)(iii), 22D, and 9(2)(d)(ii). Boards that have accepted these provisions must begin paying the increased amount to eligible dependents as of that date; no further board action beyond implementing the new rate is required.

Full Text

PERAC Memo # 21 / 2013

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 and Accidental Death Survivors

DATE: July 15, 2013

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 $797.64 beginning July 1, 2013 for each eligible child as defined in G.L. c. 32, § 7(2)(a)(iii).

Also, any retirement system which has accepted the additional pension for dependent children provided for in G.L. c. 32, § 9(2)(d)(ii), shall pay an annual amount of $797.64 beginning July 1, 2013 for each eligible child as defined in G.L. c. 32, § 9(2)(d).

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