Friday, May 17, 2024
The Falmouth Retirement Board unanimously voted to approve a Cost-of-Living Adjustment for FY 2025. Effective July 1, 2024, 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, 2023. Eligible recipients will see this Cost-of-Living Adjustment with their direct deposit on Wednesday, July 31, 2024.