Cost-of-Living Adjustment (COLA) Base Amount Increased

At the request of the Falmouth Retirement Board, the Falmouth Town Meeting, with a quorum being present on Monday, April 10, 2023, voted unanimously to increase from $14,000.00 per year to $16,000.00 per year the maximum base amount upon which the annual cost-of-living adjustment (COLA) for a retiree is calculated.  Said increase is to be effective on July 1, 2023.  The maximum amount an eligible recipient can receive is $40.00 per month.  Eligible recipients will see the increase to their cost-of-living adjustment with their direct deposit on July 31, 2023.