COLA, GIC, WEP/GPO скачать в хорошем качестве

COLA, GIC, WEP/GPO

This week’s News Update focuses on three separate issues: Special COLA Commission; FY26 GIC plan design approval; and the latest on implementation of the Social Security Fairness Act. In addition, we preview three upcoming Mass Retirees members-only meetings. Mass Retirees members can read the detailed report on these issues in this week’s Weekly Update, which is emailed to all Association members each Friday morning at 6:00 AM. Since last Friday, the Special COLA Commission has held two meetings and received a detailed overview on the issues related to the COLA, pension funding, and the underpinnings of benefit enhancements. The focus of the 9-member Commission, on which Mass Retirees President Frank Valeri represents our Association, is to study and make recommendations for improving the COLA benefit for retired MA public employees. This includes increasing the COLA base, as well as the creation of a new enhanced COLA benefit for long-term public retirees. Yesterday, the state’s Group Insurance Commission met to approve plan design for FY26. For the 7th consecutive year, the GIC has held steady and not increased copayments or deductibles. However, monthly premiums (which will be set on 2/27) are expected to rise by more than 10% on average for FY26. Mass Retirees is very concerned about healthcare affordability and the impact on our members. Steps must be taken to gain control over rising healthcare costs. Last, but certainly not least, is our ongoing focus to see the Social Security Fairness Act implemented ASAP. It is very good news that a growing number of retirees who were denied a spousal/survivor Social Security benefit are reporting that they have been able to apply for benefits without delay. These retirees tend to be those who were verbally denied a benefit due to the GPO prior to 1/5/2025. Retirees now receiving a Social Security benefit reduced by the WEP or GPO must continue to wait for further information on implementation plans. We are receiving a growing number of questions regarding the possibility of the federal government choosing to not restore Social Security benefits or even reinstate WEP/GPO. First, we are not aware of any plans or even intentions not to fully implement the Social Security Fairness Act, which was passed in a bipartisan manner by Congress, with the public support of then President-elect Trump. There is no indication that the president’s position has changed. With WEP/GPO legally repealed, only an act of Congress can reinstate or change the law. Retirees will receive the money you are due. It is not a matter of “if”, but “when” you will be paid. What does concern our Association is the prospect of reducing the Social Security Administration’s workforce – which is already short staffed and underfunded. Whether through buyouts, early retirement, or layoffs should the SSA workforce by reduced it would have a negative impact on the ability to implement WEP/GPO repeal in a timely fashion. SSA needs more workers, not fewer. Mass Retirees remains in very close communication with members of Congress, as well as with SSA. We continue to advocate for the SSA to receive the resources required to implement the law as efficiently as possible and without delay. We will keep our members well informed of all new developments. Again, Mass Retirees Association members should look to our email for the Weekly Update full details on these issues. If you are a member, but not receiving our email reports, please make sure that we have your email address on file. Members should be careful not to accidentally unsubscribe from the email list or report the email as spam. If you do, your address will be permanently removed from the list and you will no longer receive email updates. Mass Retirees is a statewide nonprofit membership Association, advocating on behalf of all retired Massachusetts public employees and surviving spouses. If you are a retired Massachusetts public employee, but not currently a member, you can join today at https://massretirees.com/new-members-... We also offer an Associate Membership option to allow active public employees nearing retirement age to subscribe to our Weekly Update, newsletter, and other informational resources that will keep you well informed and help you better prepare for your future retirement. Subscribe today at https://massretirees.com/subscribe/