Wellesley retirement board approves three percent COLA
Wellesley retirement board approves three percent COLA for retirees. Voting unanimously, the Retirement Board approved a three percent benefit increase effective July 1, 2026, aligning with Social Security's 2.8 percent COLA and near-three percent inflation. Chair David Kornwitz will present the
Retirement Board · Meeting of March 31, 2026
Wellesley retirement board approves three percent COLA for retirees. Voting unanimously, the Retirement Board approved a three percent benefit increase effective July 1, 2026, aligning with Social Security's 2.8 percent COLA and near-three percent inflation. Chair David Kornwitz will present the vote to Annual Town Meeting.
The adjustment raises the COLA base from $21,000 to $22,000, with further increases scheduled for 2027, 2028, and 2029. The board also unanimously approved a $30 million portfolio reallocation to fixed income holdings as part of a continuing de-risking strategy matched to retiree liabilities.
In the full story:
- The complete report — 347 words
Source: the Retirement Board meeting of March 31, 2026, compiled from the official minutes.
Members read the rest of this story and every Wellesley meeting we cover, in full.
Become a memberAlready a member? Sign inA 30-day free trial needs a payment method. After it, your membership renews at the price shown at checkout until you cancel, which you can do anytime from your account. Subscription terms
Share this brief
Know someone in Wellesley who follows town government? Share Townbrief Wellesley: they can sign up free.