Retirement Board approves 3% COLA increase for retirees.
Hull Retirement Board approves maximum 3% cost-of-living increase for retirees. The board unanimously granted a 3 percent COLA on a $20,000 base, effective July 1, 2026, following a public hearing where no residents appeared. The increase represents the maximum allowable under Massachusetts law,
Retirement Board · Meeting of March 17, 2026
Hull Retirement Board approves maximum 3% cost-of-living increase for retirees. The board unanimously granted a 3 percent COLA on a $20,000 base, effective July 1, 2026, following a public hearing where no residents appeared. The increase represents the maximum allowable under Massachusetts law, exceeding the Social Security Administration's announced 2.8 percent adjustment.
The board also unanimously admitted five new employees to the retirement system: Saurabh Sharma (Police Executive Assistant, Group 1), Mitchell Russo and Douglas Fahey (both Firefighters, Group 4), Elizabeth Gudmand (Public Health Nurse, Group 1), and Ian Cramond (Clerk, Group 1). J. Michael Buckley authorized liquidation of $500,000 from PRIT to fund the March payroll.
In the full story:
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Source: the Retirement Board meeting of March 17, 2026, compiled from the official minutes.
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