Providing a cost-of-living provision for certain persons retired under the Public Employees Retirement System and the Teachers Retirement System

Summary

The bill adds a cost‑of‑living adjustment (COLA) to monthly pensions for eligible public‑employee and teacher retirees. To qualify, retirees must be at least 60 years old and have received their annuity for five years or more. The COLA equals the annual increase in the consumer price index as reported by the U.S. Bureau of Labor Statistics.

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