2021 COLA Approved

At the regular meeting on May 4, 2021, the Cambridge Retirement Board voted to approve a cost of living adjustment for retirees and beneficiaries.  The COLA is 3%, based on the first $16,000 of earnings, making the maximum increase $40 monthly.  The increase will be effective on July 1, 2021.  All retirees who retired on or prior to June 30, 2020 are eligible.