Supporting Those Who Served the City: Council Backs Increased COLA for Retirees
After years of public service to Boston residents, retirees in the Boston Retirement System are at the center of a new effort to address rising living costs and strengthen retirement security.
The Council adopted a resolution offered by Councilors Flynn and Mejia supporting an annual 3% Cost-of-Living Adjustment (COLA) and an increase to the COLA base for retirees in the Boston Retirement System.
The resolution recognizes the contributions of retired city workers and states that retirees deserve a fair and dignified standard of living after dedicating their careers to public service. It notes that retirees have not received an increase to their COLA base since 2021 and currently receive an annual COLA increase of $450.
The measure also highlights the high cost of living in Boston, including increased housing, grocery, and utility expenses, and emphasizes the importance of ensuring retirees can continue to afford living in the city they served.
The resolution supports raising the COLA base from $15,000 to $18,000 for retirees in the Boston Retirement System.
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