SomervilleMeetings

22-2081 Officer's Communication Approved

Retirement Board requesting approval to increase the FY 2023 cost of living adjustment to 5%, pursuant to Chapter 269 of the Acts of 2022.

Introduced
Dec 1, 2022
Assigned to
City Council
Enactment #
214713
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 8.1.

Official text

To the Honorable City Council: At the November 29, 2022 Somerville Retirement Board meeting the Somerville Retirement Board voted to increase the retiree FY 2023 COLA up to the maximum 5% in accordance with Chapter 269 of the Acts of 2022. The Somerville Retirement Board hereby requests the City Council's approval to increase the FY 2023 COLA for eligible retirees of the Somerville Retirement Board to 5%. If you have any questions or require additional information, please do not hesitate to contact me. Sincerely, Michael Pasquariello Executive Director