Cost-of-Living Adjustment (COLA) History

Each year the board votes on a cost-of-living adjustment under MGL Chapter 32 § 103. For the current year's COLA process and the statutory framework, see Cost-of-Living Adjustments (COLA).

Year-by-year history

The tables below record the Eldridge Bay Retirement System's annual COLA votes. The percentage applies up to the COLA base; benefits above the base are not adjusted by the COLA. (Boards may set different percentages and bases each year.)

The vote:

Fiscal Year	COLA %	COLA Base
[REPLACE: e.g., FY2026]	[REPLACE: e.g., 3.0%]	[REPLACE: e.g., $12,000]
[REPLACE: FY2025]	[REPLACE]	[REPLACE]
[REPLACE: FY2024]	[REPLACE]	[REPLACE]

When it took effect, and notes:

Fiscal Year	Effective	Notes
[REPLACE: e.g., FY2026]	[REPLACE: e.g., July 1, 2025]	[REPLACE: any board notes — "increased from prior year base", "matched PERAC max", etc.]
[REPLACE: FY2025]	[REPLACE]	[REPLACE]
[REPLACE: FY2024]	[REPLACE]	[REPLACE]

[REPLACE: Add additional rows to both tables back as far as the board has records. Most members and retirees only need to see the last 5–10 years; older history can be archived in the Documents section instead.]

Reading these tables

The COLA percentage is applied to the portion of the annual benefit at or below the COLA base. So a $30,000 retirement allowance with a 3% COLA on a $12,000 base receives a $360 annual increase ($30/month), not $900.

The effective date is when the increased payment first appears in monthly checks. COLA approvals are typically voted in the late spring or early summer for the following fiscal year.

Source documents

The board's COLA notices are filed under Documents → COLA Notices, organized by fiscal year.