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The Retirement Board unanimously approved a 3% cost-of-living adjustment for retirees in the Swampscott Contributory Retirement System, effective July 1, 2026. It also approved reallocating $3.5 million from domestic equities: $1.5 million to investment-grade bonds and $2 million to hedge funds.
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Retirees in the system will receive a 3% increase in retirement benefits starting July 1, 2026. The board also adjusted investments after the fund’s market value fell to $98.6 million in March. The board may consider reallocating another $2 million at a future meeting.
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