|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 26, 2018 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, 2017. This cost of living increase would be effective July 1, 2018 and reflected with the retirement allowance check and direct deposit issued on July 31, 2018. 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.
Please be advised that the Hampden County Regional Retirement Board will mail out the Annual Affidavit on August 31, 2017 to all retirees and beneficiaries of the System. This affidavit must be signed by the retiree/beneficiary or their legally appointed representative and notarized. All affidavits are due in the Retirement Office by SEPTEMBER 22, 2017. We remind you that THERE IS NOT A NOTARY ON STAFF AT THE RETIREMENT BOARD OFFICE.
The Hampden County Regional Retirement Board Advisory Council met on October 30, 2017 and at that meeting, the Advisory Council, in its capacity as the Election Board declared Karl Schmaelzle to be re-elected to the position of Member's Representative to the Hampden County Regional Retirement Board. Mr. Schmaelzle was the only individual to take out and return nomination papers for the position. This is a three (3) year term for the period January 1, 2018 - December 31, 2020.