Agenda Text
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Retirement Board conveying a Funding Schedule that reflects an increase in the COLA base from $12,000 to $14,000, pursuant to #192304.
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Official Text
To the Honorable Board:
In response to your request (#192304), the Somerville Retirement Board requested an update of the Unfunded Actuarial Liability and the Funding Schedule of an increase in the COLA base from the current limit of $12,000 to $14,000.
Attached is a copy of the new Funding Schedule costs.
If you have any questions please do not hesitate to contact me.
Mary Phinney, Executive Secretary
Retirement Board