SomervilleMeetings

22-1855 Officer's Communication Approved

Retirement Board requesting approval of an increase in the retiree cost of living adjustment base to $16,000.

Introduced
Nov 1, 2022
Assigned to
City Council
Enactment #
214700
View on Legistar

History

  1. Dec 15, 2022
    City Council Mayoral Approval
  2. Dec 8, 2022
    City Council Approved · roll call: pass Meeting agenda, item 6.D.3.
  3. Dec 6, 2022
    Finance Recommended to be approved · roll call: pass Meeting agenda, item 2.
  4. Nov 10, 2022
    City Council Referred for recommendation · roll call: pass

    Finance Committee

    Meeting agenda, item 8.3.

Official text

To the Honorable City Council: At the October 27, 2022 Somerville Retirement Board meeting the Somerville Retirement Board voted to increase the retiree COLA base to $16,000.00. The Somerville Retirement Board hereby requests the City Council's approval to increase the maximum base amount on which the cost of living adjustment is calculated for eligible retirees of the Somerville Retirement Board to $16,000. If you have any questions or require additional information, please do not hesitate to contact me. Respectfully Submitted, Michael Pasquariello Executive Director