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Worcester Retirement Board notifies council of 3% COLA; committee files update
Summary
The Worcester Retirement System notified the Municipal Legislative Operations Committee it will continue its historical 3% cost-of-living adjustment for retirees; city staff said the increase is built into the funding schedule and the committee voted to file the informational notice.
The Worcester Retirement System notified the Municipal Legislative Operations Committee that it will provide a 3% cost-of-living adjustment (COLA) to retirees, the city auditor and auditor’s staff said during the committee’s meeting.
The notice, required 30 days before a COLA the board intends to provide that differs from the Social Security…
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