Maine Retired Teachers Cost Of Living Increase

Searching for Maine Retired Teachers Cost Of Living Increase information? On our website, we have collected a lot of different data on the cost of living. You will find links to both official statistics and people's impressions. Below are the most relevant links to Maine Retired Teachers Cost Of Living Increase data.

Cost of Living Adjustment (COLA)

https://www.mainepers.org/Retired%20Members/COLA-2.htm

The Legislature made several changes to the way that cost-of-living adjustments (COLAs) for retired state employees, teachers, judges and legislators are established. • COLAs are frozen for three years. There will be no COLA in September 2011, 2012 or 2013. • Cap on COLAs set at 3%.

Retiree COLA increase – Maine Service Employees Association

https://www.mseaseiu.org/index.php/2018/08/22/retiree-cola-increase/

Aug 22, 2018 · On Aug. 9, the Maine Public Employees Retirement System (MePERS) Board of Trustees approved a 2.9 percent cost of living adjustment (COLA) increase effective September 2018 for eligible retirees in the State-Judicial-Legislative-Teacher Retirement Plan.

Title 5, §17806: Cost-of-living adjustment to retirement ...

http://legislature.maine.gov/statutes/5/title5sec17806.html

The cost-of-living adjustment shall be determined as follows. A. Except as provided in paragraphs A-1 and A-2, whenever there is a percentage increase in the Consumer Price Index from July 1st to June 30th, the board shall automatically make an equal percentage increase in retirement benefits, beginning in September, up to a maximum annual increase of 3%.

MainePERS.org

https://www.mainepers.org/

Eligible State, Teacher, Judicial, and Legislative retirement plan retirees will receive the 0.6% COLA on their benefit up to $22,810.25 (which is the 2020 base), or a maximum increase of $11.41/month. The 2021 COLA-base will increase by 0.6%, to $22,947.11.

FY2020 COLA will be paid in August benefit payment ...

https://mtrs.state.ma.us/retiree-news-072919/

Oct 01, 2020 · FY2020 COLA will be paid in August benefit payment, retroactive to July 1. The FY2020 budget, signed into law by the Governor on July 31, 2019, included a cost-of-living adjustment (COLA) for our retirees of 3% on the first $13,000 of the benefit, for a maximum increase of $390 per year, or $32.50 per month (3% x $13,000 = $390/year; $390/year divided by 12 months = $32.50/month).