Massachusetts H48 requires an annual report on the cost-of-living change from 2022 to 2023 for retirees.

Massachusetts H48 mandates the Public Employee Retirement Administration Commission to submit an annual report detailing the percentage change in the average cost-of-living, as indicated by the United States consumer price index, from 2022 to 2023. This report is essential for informing the General Court and retirement boards about the cost-of-living adjustments (COLA) for retirees and beneficiaries under Chapter 17. The COLA for 2023 is set at 3.0%, reflecting the Social Security Administration's COLA but not exceeding this limit.

Massachusetts H48 requires an annual report on the cost-of-living change from 2022 to 2023 for retirees.

Massachusetts H48 mandates the Public Employee Retirement Administration Commission to submit an annual report detailing the percentage change in the average cost-of-living, as indicated by the United States consumer price index, from 2022 to 2023. This report is essential for informing the General Court and retirement boards about the cost-of-living adjustments (COLA) for retirees and beneficiaries under Chapter 17. The COLA for 2023 is set at 3.0%, reflecting the Social Security Administration's COLA but not exceeding this limit.