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Northampton council approves actuarial study to examine proposed 5% police pension COLA
Summary
Council authorized an actuarial study requested by the Northampton Police Department to determine feasibility of a permanent 5% cost-of-living increase for police retirees; the study cost will be paid from the pension plan and any change would require a later resolution and vote.
The Borough of Northampton council voted to authorize an actuarial study requested by the Northampton Police Department to evaluate whether a permanent 5% cost‑of‑living adjustment (COLA) could be added to the Northampton Borough Police Pension Plan for retirees.
Council members were told the last actuarial review was performed about "4 or 5…
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