July Checks Include COLA
The cost of living adjustment approved by the Cambridge Retirement Board will be effective with the checks issued for the month of July. All retirees and beneficiaries who retired prior to July 1, 2011 are eligible for the COLA. The increase is 3%, based on the first $14,000 of earnings. For all retirees earning more than $14,000 per year, this means that the maximum increase is $35 per month.