Cost of Living Adjustments (COLA) are not automatic. Granting COLA requires an annual vote by the Hampshire County Retirement Board. COLA may only be granted on the base amount of the first $13,000 of your benefit. Only those who have been retired for at least one full year (i.e. having retired on or before June 30th of the prior year) are eligible for COLA effective on July 1 of the current year.
Effective July 1, 2021 and payable July 31, 2021, a 3% COLA on the first $13,000 of retirement allowance was granted by the Hampshire County Retirement Board for all retirees having retired on or before June 30, 2020. The maximum COLA granted for July 1, 2020 = $390 (32.50/mo).