Belmont Retirement Board Approves 3 Percent COLA Hike for Retirees
Belmont Retirement Board approves 3 percent COLA increase for qualifying retirees. The board voted unanimously to grant a 3 percent Cost-of-Living Adjustment on the first $13,000 of retirement allowances, effective July 1, 2026. Board Chair Thomas Gibson led a separate unanimous vote to increase
Belmont Contributory Retirement Board · Meeting of March 23, 2026
Belmont Retirement Board approves 3 percent COLA increase for qualifying retirees. The board voted unanimously to grant a 3 percent Cost-of-Living Adjustment on the first $13,000 of retirement allowances, effective July 1, 2026. Board Chair Thomas Gibson led a separate unanimous vote to increase the COLA base from $13,000 to $15,000 and present the proposal to Town Meeting, the first increase since 1996.
Gibson noted that Belmont's COLA base ranks among the state's lowest and argued the increase is necessary as retirees face rising expenses.
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Source: the Belmont Contributory Retirement Board meeting of March 23, 2026, compiled from the official minutes.
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