Friday, April 21, 2023
The Falmouth Retirement Board unanimously voted to approve a Cost-of-Living Adjustment for FY 2024. Effective July 1, 2023, a 3% Cost-of-Living Adjustment will be applied up to the first $16,000.00 of an eligible recipient’s annual retirement allowance. The maximum amount an eligible recipient can receive is $40.00 per month. Eligible recipients will be those who retired or began survivor benefits on or before June 30, 2022. Eligible recipients will see this Cost-of-Living Adjustment with their direct deposit on Monday, July 31, 2023.