PERAC Memo #16 - 2015: 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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PERAC Memo #16/2015 announces the updated annual supplemental dependent allowance—$846.12 per eligible child effective July 1, 2015—payable under G.L. c. 32 §7(2)(a)(iii) (including systems that accepted §22D) and under §9(2)(d)(ii) for additional pensions for dependent children. Boards that have accepted these provisions must apply this new COLA-adjusted amount to eligible accidental disability retirees and accidental death survivors beginning with that date; no further action is needed for boards that have not accepted these provisions.
Full Text
PERAC Memo # 16 / 2015
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 23, 2015
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 $846.12 beginning July 1, 2015 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 $846.12 beginning July 1, 2015 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.