Enhances cost of living adjustment for certain long-term career public retirees in Massachusetts.

This bill amends the General Laws to enhance the cost of living adjustment for certain long-term career public retirees in Massachusetts. Specifically, it provides an additional $100 benefit for retirees with 15-20 years of service and an additional $200 benefit for those with over 20 years of service, provided their annual retirement benefit is below the average as determined by their retirement system's most recent actuarial valuation. The bill also extends eligibility to surviving beneficiaries of deceased retirees under certain conditions.

Enhances cost of living adjustment for certain long-term career public retirees in Massachusetts.

This bill amends the General Laws to enhance the cost of living adjustment for certain long-term career public retirees in Massachusetts. Specifically, it provides an additional $100 benefit for retirees with 15-20 years of service and an additional $200 benefit for those with over 20 years of service, provided their annual retirement benefit is below the average as determined by their retirement system's most recent actuarial valuation. The bill also extends eligibility to surviving beneficiaries of deceased retirees under certain conditions.