PUBLIC NOTICE - COLA VOTE FOR FY 2018
Pursuant to Massachusetts General Laws Chapter 32, Section 103 (i), please accept this memorandum as formal notice that on Wednesday, March 22, 2017 at 9:00 A.M., the Bristol County Retirement Board will conduct a public meeting (at the offices of the Bristol County Retirement Board) to discuss whether it will elect to grant a Cost of Living Adjustment (COLA), not to exceed 3% in the aggregate (up to the first $18,000 of the retirement allowance), to the Bristol County Retirement System’s retirees and survivors.
Additional discussion will be held regarding the recently enacted Chapter 32, Section
103 (j) that allows for an increase in the maximum base amount on which the cost-of-living adjustment is calculated. Any increase in the COLA and/or maximum base is subject to a majority vote of the Bristol County Retirement Board and then subject to approval of the Bristol County Advisory Council at a meeting to be called for that purpose.
Said increase, if approved, will be effective July 1, 2017, and will be applicable to all those who retired on or before June 30, 2016.