Cost-of-Living Adjustment Approved by Retirement Board

The Taunton Retirement Board has approved a 3% COLA effective July 1, 2018 for all eligible retirees and survivors of the system who retired on or before June 30, 2017.  At its February 28th board meeting, member Dennis Smith made the motion to approve, seconded by member Barry Amaral and the vote was unanimous to provide retirees with the increase.  Other members of the board voting in favor were Chairperson Ann Marie Hebert, member Gill E. Enos and member Peter H. Corr.  The 3% Cola applies up to the first $15,000 of the retirement allowance.  Therefore the maximum monthly cola is $37.50/month.