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Town of Lexington <br />2 <br />Mass General Law -Chapter 269 of the Acts of 2022: <br />•A retirement board may grant a cost-of-living increase of not less than 3 per cent <br />and not greater than 5 per cent on the base amount for fiscal year 2023. <br />•The cost-of-living increase on the base amount, together with the amount of pension <br />to which the cost-of-living increase is applied, shall become the fixed pension for all <br />future purposes, including the application of subsequent cost-of-living adjustments in <br />future years. <br />•This may be granted at any time during the fiscal year. <br />•Shall take effect for the members of a retirement system by a majority vote of the <br />board of such system (Lexington Retirement Board) and upon local acceptance of <br />the chief executive officer, as defined in section 7 of chapter 4 of the General Laws <br />(Lexington Select Board). <br />* https://malegislature.gov/Laws/SessionLaws/Acts/2022/Chapter269