|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. |
The Hampden County Regional Retirement Board is pleased to announce that at its regular monthly meeting held on April 29, 2019 the Board approved a 3% Cost of Living Adjustment on the first $18,000.00 of retirement income for 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, 2018. This cost of living increase would be effective July 1, 2019 and reflected with the retirement allowance check and direct deposit issued on July 31, 2019. For those retirees and beneficiaries who are receiving $18,000.00 per year or more of retirement income the maximum increase will be $540.00 per year, which is a monthly increase of $45.00.
The Hampden County Regional Retirement Board Advisory Council at its meeting held on October 30, 2019 certified the nomination papers of Patricia Donovan for the position of Member's Representative to the Hampden County Regional Retirement Board. Ms. Donovan was the only individual who took out and returned nomination, thus in its capacity as the Election Board, the Advisory Council declared Ms. Donovan to be the winner and re-elected to the position of Member's Representative. This is a three (3) year term for the period January 1, 2020 - December 31, 2022.
A SECOND AND FINAL NOTICE for completion of the 2019 ANNUAL AFFIDAVIT will be mailed out on SEPTEMBER 30, 2019 to those retirees and beneficiaries of the System who have failed to comply with filing said affidavit. The affidavit must be signed and notarized. A DEADLINE of THURSDAY, OCTOBER 24, 2019 has been set for return of the affidavit to the Retirement Board office, 67 Hunt Street, Suite 116, Agawam, MA. FAILURE TO COMPLY WILL RESULT IN SUSPENSION OF THE MONTHLY RETIREMENT ALLOWANCE BENEFIT EFFECTIVE OCTOBER 31, 2019.