Via: The Baltimore Sun
Over 115,000 retirees and beneficiaries will not see a cost-of-living adjustment in next month’s check. Retirement payments are scheduled to drop. According to Keith Brainard, research director of the National Association of State Retirement Administrators said that some pension plans place floors and ceilings on the increases. The Baltimore City pension plan covers everything but retired elected officials, firefighters and police have a minimum adjustment of 1.5 percent.
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