Retirement; allowing oversight boards of state retirement systems to approve cost-of-living adjustments under certain circumstances.

Summary

The bill amends several retirement‑system statutes so that each system’s oversight board can authorize a cost‑of‑living adjustment (COLA) for participants under specified conditions. It applies to the firefighters, police, law‑enforcement, teachers, and public‑employees retirement systems, and updates related language to be gender‑neutral and current. The measure is slated for a floor vote in the Senate.

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