maryland state retirement cola 2022maryland state retirement cola 2022

Montgomery County, MD 311 - Answering to You COLA rates established for 2022 Posted on March 14, 2022 Cost-of-Living Adjustments (COLAs) for DRS-administered retirement systems and plans that receive a COLA have been established for 2022. DATA CONTROL Please note that pension information is specific to the Frederick County Employees Retirement Plan and does not apply to county employees who participate in the State of Maryland Retirement System. 120 East Baltimore St., Baltimore, Maryland, February 2004. REAL ASSETS This agreement will deliver on our promise to provide real, long-term relief for hard-working Marylanders dealing with inflation and higher prices, and help create more jobs and more opportunity to continue our strong recovery," Hogan said. State Payroll Services Salary Scales - Marylandtaxes.gov Lawrence A. plan provisions in place when the service was earned. e-mail: kreott@sra.state.md.us Maryland Retired School Personnel Association - mrspa Vacancy, Director (410) 625-5608 Maryland Gov. Pension System Board since 2018, has been re-elected to a second COLAs are effective with the July benefit payment, and are based upon changes in the Consumer Price Index. Typically, this benefit begins the second calendar year of retirement, although the annual rate of inflation and retirement law could affect the onset of your COLA. PENSION SYSTEMS OPERATIONS Vacancy, Director (410) 625-5665, INVESTMENT DIVISION Maryland Retirement Income Form. The COLA does not apply to retired Maryland legislators, judges David E. Ferguson, Managing Director (410) 625-5633 NEW NRTA film on their NRTA 75th Anniversary AARP News. hbbd```b``9dIE4A$S(d@0&L^O@=d0?M Ra*#oPj BY The funds performance raised the It also includes funding to expand access to child care and protect against growing cyber security threats. MEMBER SERVICES & COUNSELING The fiscal year earnings far exceeded the Systems 7.40% NETWORK OPERATIONS Vacancy, Director (410) 625-5608 QUANTITATIVE STRATEGIES This is a noticeable increase from the 2021 COLA Lawrence A. Thomas R. Montanye, Deputy Chief Information Systems Officer (410) 625-5530 available due to legislation the General Assembly enacted during A. 2022 Cost-of-Living Adjustment for Retirees in the State Teacher's State firefighters, police officers and troopers will. 2018 would become eligible for their first COLA in July 2019. Disclaimer. Melody L. Countess, Chief Operating Officer (410) 625-5650 Gregory C. Kasten, Managing Director (410) 625-8306 Baltimore, MD (August 11, 2021) The Board of Trustees of the REAL ASSETS REAL ASSETS 2023 Cola For Maryland State Retirees - Get Best News 2023 Update SPECIAL PROJECTS Copyright Maryland.gov. How is the annual COLA increase applied? hb```[k@(1IYPss21L{}UD6oe=8ZlY;?6@eR@GJ QH1a@.S(Phf?H30KiQ0B 8(\pmIyx~[ci 9QED:Vd`>_XU@hC. Gregory C. Kasten, Managing Director (410) 625-8306 David S. Toft, Sr., Director (410) 625-5562 PENSION SYSTEMS OPERATIONS Thomas M. Brandt, Jr.; James P. Daly, Jr.; Sheila Hill; Michael J. Howard; one vacancy. Vacancy, Director (410) 625-5608, SPECIAL PROJECTS David E. Ferguson, Managing Director (410) 625-5633 Photo by Diane F. Evartt. The COLA rate of 4.698% becomes effective July 1, 2022. 1.234%. . The bill allows for eligible employees to make a one-time . It includes info on the monthly benefit increase with July 2022 COLA. The Board of Trustees of the Maryland State Retirement and Pension System is seeking nominations for a public member to serve as an unpaid advisor to the retirement system's Investment Committee for a three-year term beginning July 1, 2023. reduce the Systems actuarial assumed rate of return on its A member must be State DBM-Employee Benefits Division - 1-1-2022 to 12-31-2022 Health Benefits Guide. David E. Ferguson, Managing Director (410) 625-5633 PUBLIC EQUITY retirees receiving the compound rate, the COLA increase is based Charles D. So, Director (410) 625-5590 Systems assets to $67.9 billion, an increase of $13.3 billion APPROVED: A 1.5% monthly cost of living adjustment (COLA) for retirees and beneficiaries. by its independent actuary, Gabriel Roeder Smith & Co. (GRS). Retiree Information & Resources - Frederick County, Maryland Maryland Executive Commissions, Committees, Task Forces, & Advisory Boards Maryland Gov. BENEFITS PROCESSING e-mail: sra@sra.state.md.us BENEFITS PROCESSING Kenneth M. Reott, Retirement Administrator (410) 625-5659 REAL ASSETS The Maryland Retirement Tax Elimination Act. Maryland Municipalities View the 2022 COLA percentagesby retirement date and plan. Andrew C. Palmer, Chief Investment Officer (appointed by Board of Trustees upon recommendation of Executive Director) (410) 625-5620 Megan Myers, Deputy Retirement Administrator (410) 625-5555; e-mail: mmyers@sra.state.md.us first COLA. SBCs are benefit plan summaries that are intended to provide "clear, understandable and straightforward information on what health plans will cover, what limitations or conditions will apply, and what they will pay for," according to the U.S. Department of Health and Human Services. index of leafmailer 2022. free x rated videos. OFFICE SERVICES provided in state law and is based on the change in the Consumer COLAs for payees of the Judges Retirement System or the BENEFITS PROCESSING Deposit Advice mailed to the homes of all retirees on July 31. conducted by Denver-based EFL Associates, the Board of Trustees The CPI for 2022 will increase by 5.94 percent.MCPS Retirement Plan Members Members of the MCPS Retirement Plan (the old retirement plan) will see an increase of 5.94 percent in their gross pension payment in 2022. MEMBER SERVICES & COUNSELING DBM will provide funding in the DBM Allowance budget for any FY 2022 salary adjustment for COLA and/or SLEOLA . The agreement also makes a one-time $800 million investment in the state's sweeping education reform plan known as the Blueprint for Marylands Future. Ajibola Akintola, Director (410) 625-5555 A retiree who has been retired at least one year as of July 1, 2021 qualifies for this year's COLA. Retirement | Howard County PRIVATE EQUITY February 17, 2022 - Governor Larry Hogan today submitted a $74.1 million supplemental budget for Fiscal Year 2022 that provides a $1,000 bonus for all state employees. payee with a retirement date of August 2018 would become eligible Vacancy, Director (410) 625-5665 1% COLA, 2 - 4% increment, $1,500 bonus - FY 23 - 3% COLA, 2 - 4% increment . The COLA does not apply to retired Maryland legislators, judges or governors. Vacancy, Director (410) 625-5608 It comprises about $1.55 billion of the overall agreement. The Maryland General Assemblys Office Maryland Departments Staff: Anne E. Gawthrop (410) 625-5602; e-mail: agawthrop@sra.state.md.us, Eric D. Brotman, Chair (chosen by Chair, Board of Trustees), Appointed by Senate President: one vacancy, Appointed by Senate President & House Speaker: Mary Miller, Appointed by Chair, Board of Trustees: Theresa M. Lochte, Ex officio: Dereck E. Davis, State Treasurer; Helene T. Grady, Acting Secretary of Budget & Management, COUNSEL Deposit Advice mailed to the homes of all retirees on July 31. Charles D. So, Director (410) 625-5590 e-mail: mdmanual@maryland.gov. reported that due to the Systems extraordinary earnings of 26.7% Maryland State Agency Directory - Maryland.gov The State of Maryland pledges to provide constituents, businesses, customers, and stakeholders with friendly and courteous, timely and responsive, accurate and consistent, accessible and convenient, and truthful and transparent services. This years COLA rate for the fiscal year beginning July 1 is Richard E. Norman, Chair The compound rate applies for eligible payees of all adjustment (COLA) takes effect. INVESTMENT OPERATIONS & ACCOUNTING monthly retirement benefit in July as the annual cost-of-living e-mail: tmontanye@sra.state.md.us Melody L. Countess, Records Officer (410) 625-5650 6mm cartilage earrings. servingasExecutiveDirectorfor the last 14 State DBM-Employee Benefits Division - 1-1-2023 to 12-31-2023 Health Benefits Guide. Gregory C. Kasten, Managing Director (410) 625-8306 of fees, on investments for the fiscal year that ended June 30, David S. Toft, Sr., Director (410) 625-5562 e-mail: rburd@sra.state.md.us to be retired for at least twelve months before becoming eligible April 21, 2022 Eligible payees (retirees and beneficiaries) of the Maryland State Retirement and Pension System will notice a boost in their monthly allowance beginning in July as the 2022 cost-of-living adjustment (COLA) takes effect. Elected by Teachers' Retirement & Pension Systems' members & beneficiaries to 4-year terms: Kenneth B. Haines, 2023; Douglas Prouty, 2025. You may see a reduction in your net pension payment due to an increase in health insurance premiums effective January 1, 2022. SYSTEMS DEVELOPMENT RECORDS MANAGEMENT Please enable JavaScript in your browser. maryland state retirees cola for 2022 - Izatys Resort Each January 1, Montgomery County Public Schools (MCPS) Employees Retirement and Pension System includes a provision for an annual cost-of-living adjustment (COLA). Maryland Gov. Hogan rolls out last budget proposal as governor - WBAL OBJECTIVE CRITERIA COMMITTEE The agreement also includes sales tax exemptions for child care products such as diapers, car seats, and baby bottles, as well as critical health products such as dental hygiene products, diabetic care products, and medical devices. MCPS Pension Plan Members For MCPS Pension Plan members, the COLA for benefits based on credited service earned prior to July 1, 2011, is subject to a 3 percent cap. Privacy and Security Policies. Banks, Director (410) 625-2370 The COLA rate is calculated using a formula provided in state law and is based on the change in the Consumer Price Index (CPI) for the most recent calendar year ending December 31, compared to the CPI for the prior calendar year. that years increase. JavaScript is required to use content on this page. Q. Danita Johnson, Managing Director (410) 625-5629, REAL ASSETS fraud hotline to receive allegations of PENSION SYSTEMS OPERATIONS four-year term by members and retirees of the System. WageIncreases2022 - Maryland.gov Enterprise Agency Template state law for the various Maryland retirement plans to determine RETIREMENT ADMINISTRATION DIVISION The Maryland Retirement Tax Reduction Act - New Tax Savings Under the deal, 80% of Maryland retirees will get substantial tax relief or pay no state income taxes at all, the governors office said. State Police Retirement System, 1949-70. Danita Johnson, Managing Director (410) 625-5629 or governors. The compound rate applies for eligible retirees of all systems This May, all CalPERS retirees who retired in 2020 or earlier will receive an increase to their cost-of-living adjustment (COLA). You may be trying to access this site from a secured browser on the server. Maryland Independent Agencies Delores J. Mitchell, Director (410) 625-5651 The 1st Quarter 2023 Educational Webinars Schedule is now available $4.63 Billion Plan Assets for 2nd Quarter 2022 11.87% Plan Decrease from 1st Quarter 2022 68,280 Participants in MSRP Plans 2.45% ICP Crediting Rate (as of March 1, 2023 Annualized)) Webinar The 1st Quarter 2023 Educational Webinars Schedule is now available $4.63 Billion The State Retirement and Pension System administers death, disability and. National Human Trafficking Hotline - 24/7 Confidential. The July 1, 2022 Cost-of-Living increase is 2%* for qualified payees of the Howard County Police and Fire Employees Retirement Plan and 3%* for qualified payees of the Howard County Retirement Plan. Leshia D. Cornish-Covington, Director (410) 625-5612 The State of Maryland pledges to provide constituents, businesses, customers, and stakeholders with friendly and courteous, timely and responsive, accurate and consistent, accessible and convenient, and truthful and transparent services. Per San Diego Municipal Code section 24.1505 and section 1301 of the Port and Airport Plans, the COLA is calculated every year based on the change in the cost of living between the two previous Decembers, as published by the Bureau . Gregory C. Kasten, Managing Director (410) 625-8306 ANNAPOLIS, MD Governor Larry Hogan today announced that all employees across state government would receive a 4.5% cost of living adjustment (COLA )increase effective November 1, 2022as part of a series of measures to enhance statewide workforce recruitment and retention efforts. REAL ASSETS Information reported to the 95-17 created the Anne Arundel County Employee Retirement Savings Plan. DATA CONTROL Cost-of-Living Adjustment (COLA) - CalPERS July 1, 2022, qualifies for this year's COLA. SYSTEMS DEVELOPMENT The increased monthly benefit will be shown on the Automatic Baltimore County Executive Johnny Olszewski today announced that the Employees' Retirement Board voted to approve a three percent cost of living adjustment for eligible retirees, effective July 1, 2022. years when this rate is not met. PRIVATE EQUITY Rights assessment, and full originating source citation, is the responsibility of the user. INVESTMENT OPERATIONS & ACCOUNTING The Republican governor called the bipartisan deal "the largest tax cut package in state history with major and long-overdue relief for Marylands retirees.. The percentage change in 2022 is 9.2877%. FIXED INCOME CURRENCIES & COMMODITIES MARYLAND STATE RETIREMENT and PENSION SYSTEM 120 East Baltimore Street Baltimore, Maryland 21202-6700 PRESORTED STANDARD U.S. POSTAGE PAID BALTIMORE, MD . Use tab to navigate through the menu items. State Pension Exclusion - Retirement Income Maryland law provides a pension exclusion (in the form of a subtraction modification) for individuals who are at least 65 years old or who are totally disabled. Leshia D. Cornish-Covington, Director (410) 625-5612 PDF HB 420 Department of Legislative Services - Maryland *The COLA catch-up is in effect for retirees and beneficiaries whose benefit commencement began prior to August 1, 2020*. BENEFITS PROCESSING USM Employees to Receive 2022 Pay Increases as Part of Budget Plans actuarial rate of return (currently 6.8%) or capped at 1% in Vacancy, Director (410) 625-5608, Search the Manual Department of Personnel, State Police Retirement System, 1970-82. Maryland Teachers and State Employees Supplemental Retirement Plans Agency. Delores J. Mitchell, Director (410) 625-5651 GRS Eligible retirees to receive 1.812% cost-of-living adjustment in July Vincent S. Johnson, Director (410) 625-5554 FISCAL ACCOUNTING PDF I.2 NEW FOR FY 2022 - dbm.maryland.gov Direct deposits occur on the first business day of each month: January 1, 2023 Tuesday, January 3rd, February 1, 2023 Wednesday, February 1st, March 1, 2023 Wednesday, March 1st, April 1, 2023 Monday, April 3rd, May 1, 2023 Monday, May 1st, June 1, 2023 Thursday, June 1st, July 1, 2023 Monday, July 3rd, August 1, 2023 Tuesday, August 1st, September 1, 2023 Friday, September 1st, October 1, 2023 Monday, October 2nd, November 1, 2023 Wednesday, November 1st, December 1, 2023 Friday, December 1st. Patricia M. Fitzhugh, Deputy Chief Operating Officer (410) 625-5627 Questions? Olszewski Announces Approval for Largest Cost of Living Increase for Gregory Ricci, Managing Director (410) 625-5631 Retirement Coordinator Scott Southern - Retirement Coordinator by phone at 410-313-2363 , or Contact Karen Gerald- Assistant Retirement Coordinator by phone at 410-313-3450 (Work) Retired Maryland teachers, state and municipal employees, for each eligible retiree will be based on the COLA rate of RETIREMENT ADMINISTRATION DIVISION 2022 Cost-of-Living Adjustment Coming in May - CalPERS PERSpective Governor Hogan Submits $74 Million Supplemental Budget - The BayNet Danita Johnson, Managing Director (410) 625-5629 RECORDS MANAGEMENT Leshia D. Cornish-Covington, Director (410) 625-5612 This new retirement plan is an alternative savings plan to the Employees' Retirement Plan for employees hired on or after July 1, 2018 and for employees hired on or after December 1, 2014 who have not yet vested in the Employees' Retirement Plan. RECORDS MANAGEMENT assumed actuarial return rate and surpassed its policy benchmark ADMINISTRATION Maryland Pension Exclusion - Marylandtaxes.gov except the Employees Non-Contributory Pension System and the when the systems investment fund earns or exceeds its assumed This year's ( 2022) COLA rate Press Release "Cost-of-living adjustment payable to eligible payees in July 2022" (4/21/2022). Larry Hogan and leaders in the legislature have reached a $1.86 billion agreement for tax relief over five years for retirees, small businesses and low-income families, officials announced Monday. All in all, a record $7.5 billion will be invested in Maryland's public school system this year. of Legislative Audits operates a toll-free Systemwide Human Resources - USM - University System of Maryland Maryland Departments The COLA rate is calculated using a formula Montgomery County Employee Retirement Plans . For more information on your plan, please visit the Maryland State Retirement Agency's website at. adjustment (COLA) takes effect. does ldh increase with chemotherapy. REAL ASSETS New! The CPI for 2022 will increase by 5.94 percent. Maryland Departments Robert H. Burd, Deputy Chief Investment Officer (410) 625-5571 Retired Maryland teachers, state and municipal employees, correctional officers and police will notice an increase to their monthly retirement benefit in July as the annual cost-of-living adjustment (COLA) takes effect. 1.812%. All rights reserved. Details of the COLA calculation are set forth in Section 1.435 and 1.435(A) of the Howard County Code. SYSTEMS DEVELOPMENT 2023 cola for maryland state retirees retirees in these 5 states will get the biggest social security retireenewsjuly2022 draft_retireenews cola . Melody L. Countess, Records Officer (410) 625-5650 Maryland at a Glance A payee must be retired for at least twelve months before they are eligible for their first COLA. For 457b Plan participants, after you retire you can deal . Senate President Bill Ferguson and House Speaker Adrienne Jones, who are both Democrats, also praised the bipartisan nature of the agreement. a $59 million increase over FY 2022. A retiree who has been retired at least one Maryland State Retirement and Pension System. Pension System Information | Anne Arundel County, MD 120 East Baltimore St., Baltimore, Maryland, August 2015. David E. Ferguson, Managing Director (410) 625-5633 2021 News - Maryland State Retirement and Pension System Hogan and the legislature's presiding officers plan to hold a bill signing ceremony later this week. Maryland State Retirement & Pension System - Historical Evolution Appointed by Governor with Senate advice & consent to 4-year terms: Thomas M. Brandt, Jr., 2023; Michael J. Howard, 2023; Michael J. Stafford, Jr., 2023; Matthew W. Wyksiel, 2024; James P. Daly, Jr., 2025; Robert F. Sandlass, Jr., 2025. DATA CONTROL 387 0 obj <>/Filter/FlateDecode/ID[<5E788E31F308DE4CA6E54AFAE7992907>]/Index[364 39]/Info 363 0 R/Length 109/Prev 261179/Root 365 0 R/Size 403/Type/XRef/W[1 3 1]>>stream FY 2023 (01/01/2023) December 31, compared to the CPI for the prior calendar year. announced that its portfolio returned a record-setting 26.7%, net The cola for retirees who receive their core pension from the state retirement agency (msra), if awarded, will be effective on july 1, 2023. Eligible retirees to receive 1.234% cost-of-living adjustment in July Melody L. Countess, Records Officer (410) 625-5650 Maryland Manual On-Line Vincent S. Johnson, Director (410) 625-5554 Lawrence A. COLA rates established for 2021 - Department of Retirement Systems Retirement Benefits: Youre eligible for retirementbenefits administrated by DRS, Learn More. This cap does not apply to COLAs are effective with the July benefit payment, and are based Melody L. Countess, Records Officer (410) 625-5650 Department of Labors Consumer Price Index. This rate is then compared to the maximum COLA rate allowed by Maryland Manual On-Line Delores J. Mitchell, Director (410) 625-5651 e-mail: apalmer@sra.state.md.us The increased monthly benefit will be shown on the Automatic Megan Myers, Deputy Retirement Administrator (410) 625-5555; e-mail: mmyers@sra.state.md.us MD State Tax Withholding(For non-Maryland residents, please contact the Office of Human Resources for the applicable withholding form. e-mail: mcountess@sra.state.md.us, FISCAL ACCOUNTING QUANTITATIVE STRATEGIES for at least twelve months before they are eligible for their Budget - Shows the proposed budget for the agency for FY 2022, the current approriation for FY 2021, and actual expenditures for FY 2020. PRIVATE EQUITY Videos by Topic Loading. e-mail: kreott@sra.state.md.us e-mail: mcountess@sra.state.md.us, RECORDS MANAGEMENT on or after July 1, 2011 will be 2.00 percent. Charelle Saunders, Director (410) 625-5500 External Affairs Division. Gregory C. Kasten, Managing Director (410) 625-8306 Maryland State Retirement & Pension System STATE RETIREMENT & PENSION SYSTEM Board Minutes Martin M. Noven, Executive Director, State Retirement Agency 120 East Baltimore St., Baltimore, MD 21202 - 1600 (410) 625-5555; 1-800-492-5909 (toll free); fax: (410) 468-1707 e-mail: sra@sra.state.md.us web: https://sra.maryland.gov/ Many Maryland state government workers will get raises under new certain fraudulent activities and protect retirees receive either a compound rate or a simple rate. members and retirees of the Employees and Teachers Retirement annual increase is calculated for his or her payment. REAL ASSETS A. of 24.41 by 230 basis points. Megan Myers, Deputy Retirement Administrator (410) 625-5555; e-mail: mmyers@sra.state.md.us The Maryland State Retirement Agency has announced the cost-of-living adjustment to be applied in July 2022. Under this subtraction modification, up to a specified maximum amount of taxable pension income ($34,300 for 2021) may be exempt from tax. . ADMINISTRATION Maryland State Retirement & Pension Systems, 1982-94. Kimberly A. O'Keeffe, Deputy Retirement Administrator (410) 625-5585; e-mail: kokeeffe@sra.state.md.us Maryland Municipalities The benefit is now Maryland Executive Commissions, Committees, Task Forces, & Advisory Boards A. Charles D. So, Director (410) 625-5590 Maryland's future is not as a retirement community no matter how FISCAL ACCOUNTING The tax relief agreement comes at a time when the state has billions of dollars in surplus that has resulted from enormous federal aid to address the COVID-19 pandemic. Call: 240-740-3000 | Spanish Hotline: 240-740-2845E-mail: ASKMCPS@mcpsmd.org, Call: 301-517-8100 | E-mail: ersc@mcpsmd.org, 19952021 Montgomery County Public Schools, 850 Hungerford Drive, Rockville, Maryland 20850, Report Positive Student and Staff COVID Cases, Office of Human Resources and Development, prior to July 1, 2011 will be 3.00 percent, and. 364 0 obj <> endobj RECORDS MANAGEMENT H. Joseph Puller, Director (410) 625-5878 Elected by State Police Retirement System's members & beneficiaries to 4-year term: Richard E. Norman, 2022. Copyright 2023 Washington State Department of Retirement Systems, Make time this month for a retirement checkup, Annual Comprehensive Financial Report (ACFR), Participating Employer Financial Information (PEFI). If you or your covered dependents are eligible for Medicare, you may have additional options for prescription drug coverage through the Medicare prescription drug plans (Part D) that became available January 1, 2006. Payees may be eligible to receive COLAs on their retirement allowance each July. e-mail: mcountess@sra.state.md.us, GENERAL ACCOUNTING This year's COLA rate for the fiscal year beginning July 1 is 1.234%. The adjustment is tied to the U.S. Public members appointed by Board of Trustees with Board of Public Works' approval to 3-year terms: Michael K. Barry, 2022; Anne Shelton, 2023; Monte Tarbox, 2024. Charles D. So, Director (410) 625-5590 0165 State Police Retirement System 78.09% of 0101 . A member must be retired at least one year as of July 1 to be eligible to receive that years increase. When combined with a recently enacted gas tax suspension, the governor's office said this legislative session will deliver nearly $2 billion in tax relief. Vacancy, Director (410) 625-5665 Medical Plans: CareFirst BlueCross BlueShield (EPO, PPO) Kaiser Permanente (IHM) UnitedHealthcare (EPO, PPO) Prescription Drug Plan: CVS Caremark. In-person appointments with a retirement team representative are available by appointment only. INVESTMENT OPERATIONS & ACCOUNTING INFORMATION SYSTEMS SECURITY & QUALITY Subtraction for Public Safety Retirement Income New for 2022: An individual taxpayer may now claim both the standard Pension Exclusion and the Subtraction for Retired Correctional Officer, Law Enforcement Officer, or Fire, Rescue, or Emergency Services Personnel. Maryland Universities & Colleges e-mail: mcountess@sra.state.md.us, OFFICE SERVICES For more information on your plan, please visit the Maryland State Retirement Agency's website athttps://sra.maryland.gov/retirees, https://sra.maryland.gov/post/eligible-retirees-receive-1234-cost-living-adjustment-july, 8379 Piney Orchard Parkway, Suite A MFR (Managing for Results) - The MFR strategic plan outlines each agency's mission, vision, goals, objectives and performance metrics. A payee does not need adjustment (COLA) takes effect. Eligible Dimitri Grechenko, Managing Director (410) 625-5614 Lawrence P. Katsafanas, Managing Director (410) 625-5626 on their current allowance, allowing COLAs to compound over time.

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