As is the case with nearly every bill effecting municipal finance, this proposal will be local option. In addition to filing legislation to address the COLA percentage, the Association is also taking steps to increase the base pension on which the maximum COLA is applied. If you double the base without having the funds to pay for it, you are only hurting those retirees with small pensions. I cannot support a proposal that leaves our most vulnerable members out in the cold. Some members may not want to hear it, but the fact is that our pension system cannot support true COLAs based on the full amount of one's pension.
Teachers are slightly higher and municipal workers slightly lower.