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Lawrence J. Hogan Jr. (R) to the General Assembly on Monday. If you believe in our cause and would like to help out please donate or shop at our store. Your email address will not be published. In the past, similar planned changes to retirement benefits have triggered waves of retirements before the changes take place, the OLR report states. ", House Speaker Adrienne Jones issued a statement saying: "I am disappointed this budget continues to undermine the (Blueprint for Maryland's Future's) commitment to providing a world-class K-12 education for children in every ZIP code. According to the Bureau of Labor Statistics, between 2015 and 2020 there was only one year 2018 during which the CPI-W for July was above 2 percent. Thank you for visiting the MTA website. The SSA is anticipating the largest COLA increase of the last 40 years at around 6% for 2022. COLA - Maryland Troopers Association 701 E. Pratt St. Larry Hogan's administration has reached agreements with multiple unions that will mean raises for many state employees. The COLA does not apply to retired Maryland legislators, judges or governors. Larry Hogan discusses the RELIEF Act, last year's pandemic financial aid bill that combined stimulus payments, tax breaks and business aid, that was signed. 2.5% Cola for State Retirees/Funds. Maryland Today | Pay Raises, Bonus Proposed for UMD Employees "This is not just good for our economy, it's also good for our quality of life. "I want to thank all hardworking state employees for their dedicated service.". Gov. We are unable "I think it is something they've earned and definitely something that would help them stay here," said Steve Adams, a Maryland taxpayer. This has been a legitimate and constant request from our retirees for the last ten years, and I am very happy County Executive Olszewski will make this a priority.. Hearing Rumors? IT WOULD BE PHASED IN OVER SIX YES.AR IT WOULD REMOVE 70,000 LOW INCOME SENIORS FROM THE TAX ROLLS IMMEDIATY. MSEP 2011 members hired after January 1, 2011 who leave state employment prior to retirement eligibility, will receive their first COLA in retirement on the second anniversary of their retirement. All content copyright 2023 Maryland Troopers Association | Design by Flying Tugboat Studios, Death Notification Lieutenant (Ret) Neil Bechtol, Celebration of Life : Sgt (Ret) Charles Ray Smiley, Governor Moore announces New Maryland State Police Superintendent Lt. Col. Ronald Butler, Death notification for Cpl (Ret) John Bowman III, Maryland State Police 102nd Anniversary Ceremony- January 10, 2023, 2023 MTA dependent Scholarship applications are now available, Death Notification Retired Sergeant M. Fred Phelps. After reaching your COLA cap, your annual COLA will be equal to 80% of the percentage increase in the average Consumer Price Index (CPI) from one year to the next, which, as noted above, is 0.987% for 2021. The USM and its institutions compete successfully nearly $1.5 billion in external grants and contracts annually.