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Date: 4/11/2023
WARE — Patrick Brock, chair of the Hampshire County Retirement System, appeared before the Selectboard to request an approval of an increase to the cost of living adjustment by not more than $260 per retiree for fiscal year 2023.
Brock said the FY23 budget passed in late July 2022, and it included sections for state retirees and state teachers retirees. In the past, local boards had the authority to vote on the COLA, Brock said.
Brock said this year was unique in that the rules changed, and now the chief executive officer of the municipality, which in Ware is the Selectboard, has the authority to vote on the COLA rate.
Another issue Brock brought up was retroactive COLA payments to retirees. Two-thirds of the 18 boards Brock is visiting, he said, need to pass a yes vote on retroactive COLA payments, and asked the board to consider voting in favor of this.
The board approved Chapter 269 of the Acts of 2022 to accept the decision made by the Hampshire County Retirement System to increase the COLA by not more than $260 per retiree for FY23, and to allow retroactive COLA payments.