Understanding the COLA on your August benefit statement
The Governor signed the FY2024 budget into law on August 9th. The budget includes a cost-of-living adjustment (COLA) effective July 1, 2023, providing a 3% increase on the first $13,000 of your retirement benefit. This results in a maximum increase of $390 per year or $32.50 per month …
Read more COLA update: Governor Healey signs FY24 budget; COLA included in August benefit payment