The Hampden County Regional Retirement Board is pleased to annouce that at its regular monthly meeting held on January 28, 2011, the Board voted to increase the base that the Cost of Living Adjustment maximum increase is calculated upon from $12,000.00 per year to $18,000.00 per year effective July 1, 2011. The Board's action was approved by the Hampden County Regional Retirement Board Advisory Council on April 5, 2011. The Board was able to increase the COLA base by extending the funding schedule of the system from 2024 to 2036. The Board's actuary, Kathy Riley from Segal provided actuarial services to the Board.
At the regular monthly meeting of the Hampden County Regional Retirement Board held on Thursday, April 28, 2011 the Board voted to grant a 3% Cost of Living Adjustment to those eligible retirees and survivors receiving benefits from the system. In order to be eligible to receive this increase, a member must be retired on or before June 30, 2010. If you are currently receiving a benefit of $18,000.00 per year or more, the maximum increase will be $540.00 per year paid monthly at a rate of $45.00. This increase is effective July 1, 2011 and will be reflected in your retirement allowance check issued on July 31, 2011.
The Hampden County Regional Retirement Board Advisory Council, acting in its authority as the Election Board of the System, announces that nomination papers for the position of Elected Member's Representative to the Hampden County Regional Retirement System are available commencing on Monday, October 17, 2011 through Friday, October 28, 2011. The nomination papers must be returned fully completed by 4:00 P.M. on Friday, October 28, 2011. Nomination papers may be picked up at the Hampden County Regional Retirement Board office between the hours of 9:00 A.M. and 4:00 P.M. Monday through Friday. The Retirement Board office is located at 67 Hunt Street, Suite 116, Agawam, Massachusetts. Any active member, inactive member or retiree of the Hampden County Regional Retirement System may seek this position. This is a three year position commencing on January 1, 2012 and running until December 31, 2014. This position is currently held by Karl Schmaelzle a retired Agawam firefighter.
|
