Benefit Increases Approved

The Cambridge City Council has approved an increase in the Section 101 survivor benefit.  This allowance is paid to the surviving spouses of Accidental Disability retirees who retired prior to November 7, 1996.  The allowance had been $750 per month.  Due to the Council’s approval of a local option, the benefit will be increased to $1,000 per month.  The increase is effective immediately, and will be included in the May payroll.

The Retirement Board has also voted to approve a cost of living adjustment for all retirees.  The Board approved a COLA of 3%, with a $14,000 base.  This means that the maximum increase will be $35 per month.  Retirees must have retired prior to July 1, 2014 in order to be eligible for the COLA.  Increases will be included in the July payroll.