PLYMOUTH RETIREMENT BOARD
Friday, May 27, 2011 8:30 a.m.
Agenda - Annual COLA Vote
10 Cordage Park Circle, Suite #240 Plymouth MA 02360
The purpose of this meeting was to discuss the percentage of Cost-of-Living Adjustment (COLA) to be granted to eligible retirees as of July 1, 2011. Pursuant to Chapter 32, Section 103(c) any system may grant a COLA of 3%, which is the maximum amount allow under Section 103(c). The maximum allowable for retirees of the Plymouth Retirement System is 3% applied to the first $14,000 of retirement allowance, given the Town's previous acceptance of Chapter 32, Section 103(i). Eligible retirees are those who have been retired for one full year as of June 30, 2010.
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