February 27, 2018
Posted January 30, 2018 @ 12:00 PM
210 Central St
Hingham, MA 02043
Retirement Board Notice of Public Hearing
Tuesday, February 27, 2018
NOTICE OF PUBLIC HEARING
The Hingham Retirement Board will hold a Public Hearing on Tuesday, February 27, 2018 at 10:00 A.M. in the South Hearing Room (Town Hall, 3rd floor) to discuss and/or approve one of the following options:
1. Increase the base on which the Cost of Living Adjustment (COLA) is calculated for FY 2019 from $13,000 to $14,000. Under the provisions of Chapter 32, Section 103(j) inserted by Section 19 of Chapter 188, systems may increase the maximum base on which the COLA is calculated in multiples of $1,000. Each increase must be accepted by a majority vote of the retirement board and approved at town meeting.
2. Grant a Cost of Living Adjustment (COLA) pursuant to Chapter 32, §103(c) for FY2019 up to a maximum of 3% on the first $13,000 retirement allowance pursuant to Chapter 32, §103(i).
All interested parties are welcome.