News

COLA

The Middlesex County Retirement Board voted unanimously on February 13th to grant retirees the maximum allowable Cost of Living Adjustment (COLA). The maximum COLA allowed by law for retirees of the Middlesex County Retirement System is 3% of the first $16,000 of retirement benefits, or $480.00 per year.  This increase will take effect on July 1.

 

Board Raises COLA Base to $16,000

Good news for our retirees!  After carefully reviewing the System’s liabilities, the Middlesex County Retirement Board voted unanimously to increase the current $14,000 base amount upon which annual retiree Cost of Living Adjustments (COLAs) are calculated.  Effective July 1, 2019, the COLA will be calculated at up to 3% of the first $16,000 of a retiree’s annual benefit.  The Board’s action was unanimously ratified by the Middlesex County Retirement Board Advisory Council on December 19, 2018.  See our Newsflash for more details.

Brian Curtin Re-Elected as Second Member

On January 16th, Brian Curtin was officially sworn in as the second member of the Middlesex County Retirement Board.  PERAC Executive Director John Parsons administered the oath of office.  See our Newsflash for more details.

2018 Fall Newsletter

The Fall 2018 Newsletter has been posted to the site.  Highlights of this issue include: how the System’s assets are accumulated as well as its investment performance over the years, health insurance premium exclusions for public safety retirees, why active members should have a current Beneficiary Selection Form on file, a social security update and an explanation of superannuation retirement benefits. We salute PERAC Executive Director Joe Connarton, who will retire at the end of this year. We remember former Board Member, Larry Driscoll, who passed away in November.