Cost-of-Living Adjustment Approved for July 1, 2017

The Taunton Retirement Board voted at its regular monthly meeting on March 22, 2017 to grant a 3% COLA to eligible retirees and survivors effective July 1, 2017 up to the first $15,000 (base) of the retirement allowance.  The maximum increase a pensioner could receive is $37.50/month.  To be eligible for the COLA, the member/survivor must have retired prior to June 30, 2016.  Motion to approve the 3% COLA was made by board member Dennis Smith, seconded by Barry Amaral and the vote was unanimous.