City of Malden - File #: 137-23

• File #: 137-23
• Version: 1
• Type: Order
• Status: Reported from Committee
• File created: 3/22/2023
• In control: City Council
• On agenda: 3/28/2023
• Final action: 4/25/2023
• Title: Order: That the City Council approve an additional 2% COLA for FY23 retroactive to July 1, 2022 for all retirees and survivors of the Malden Retirement System.
• Sponsors: Carey McDonald

Date	Ver.	Action By	Action	Result
4/25/2023	1	City Council	adopted	Pass
4/11/2023	1	Finance Committee
3/28/2023	1	City Council	referred	Pass

Title

Order: That the City Council approve an additional 2% COLA for FY23 retroactive to July 1, 2022 for all retirees and survivors of the Malden Retirement System.

Body

The 2% would be applied to the existing $18,000 COLA base and would add to the existing 3% COLA already approved last April. This is a one-time increase, only applicable to FY23.