COLA Hearing

The Essex Regional Retirement Board (“Board”) will hold a meeting on Monday, April 29, 2024, at 8:30 a.m., at which time a hearing will be held for the purpose of voting on a Cost-of-Living Adjustment (COLA) for eligible members of the retirement system.

Pursuant to Massachusetts General Law (MGL), Chapter 32, Section 103(i), the Board may vote to increase the COLA percentage up to 3.0%.  Any COLA increase is applied to the first $16,000 of an eligible member’s benefit.  If approved, this increase will be applicable to eligible members who retired on or before June 30, 2023, and will be effective as of July 1, 2024.

Anyone wishing to submit comments to the Board in advance of the meeting may do so via email to info@essexrrs.org.  Your comments will be provided to the Board at the COLA hearing.