Employees' Retirement System and Teachers' Retirement System; retirees and beneficiaries, two percent cost-of-living benefit increase effective October 1, 2026

Summary

The bill adds a two‑percent raise, with a minimum of $15 per month, to the monthly benefits of certain Employees' and Teachers' Retirement System retirees and their survivors. It applies to retirees whose retirement date was before Oct. 1, 2025, unless their employer opts out or the increase isn’t funded in the state budget. The measure also includes safeguards for Medicaid recipients and outlines how the cost will be shared between the state and participating employers.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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