Legislative Update by State Rep. Mike Sanders Dist. 59
Cost-of-Living Adjustment for State Retirees Passes House
The House this week passed legislation that would grant a cost-of-living adjustment (COLA) to state retirees in six of the state’s pension plans.
House Bill 3350 passed 99-0. The measure would grant a 4% COLA to any state pensioner that has been retired for five years or more as of July 1 this year and a 2% COLA to those retired at least two years but not five.
The House ran similar legislation last year, but it was not picked up by the state Senate. This year, a number of senators have signed on as co-authors of this bill. That gives me hope it will make it through that chamber and to the governor’s desk to be signed into law.
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