City of Somerville, Massachusetts - File #: 22-2081

• File #: 22-2081
• Version: 1
• Type: Officer's Communication
• Status: Approved
• File created: 12/1/2022
• In control: City Council
• On agenda: 12/8/2022
• Final action: 12/15/2022
• Enactment date: 12/8/2022
• Enactment #: 214713
• Title: Retirement Board requesting approval to increase the FY 2023 cost of living adjustment to 5%, pursuant to Chapter 269 of the Acts of 2022.
• Indexes: Finance-Assessing, Finance-Auditing, Finance-Budget, Finance-Grants Development, Finance-Procurement & Contracting Services, Finance-Treasury

Date	Ver.	Action By	Action	Result
12/15/2022	1	City Council	Mayoral Approval
12/8/2022	1	City Council	Approved	Pass

Agenda Summary

title

Retirement Board requesting approval to increase the FY 2023 cost of living adjustment to 5%, pursuant to Chapter 269 of the Acts of 2022.

body

Official Text

To the Honorable City Council:

At the November 29, 2022 Somerville Retirement Board meeting the Somerville Retirement Board voted to increase the retiree FY 2023 COLA up to the maximum 5% in accordance with Chapter 269 of the Acts of 2022.

The Somerville Retirement Board hereby requests the City Council's approval to increase the FY 2023 COLA for eligible retirees of the Somerville Retirement Board to 5%.

If you have any questions or require additional information, please do not hesitate to contact me.

Sincerely,
Michael Pasquariello
Executive Director