Pensions

PSERS SERS

Cost of Living Adjustments Membership Provisions Miscellaneous Post Retirement Adjustments

Amends Titles 24 (Education) and 71 (State Government) to provide a supplemental cost-of-living adjustment (COLA), commencing with the first monthly annuity payment after July 1, 2017. Eligible recipients include annuitants of the state and school pension plans whose most recent effective date of retirement is prior to July 1, 2001 and whose credited service does not include any service credited as Class T-D, Class D-4 or Class AA. The COLA would be paid over a five-year period and range from 20 to 100 percent (based on date of retirement) of the monthly annuity payment.

House Bill 1513 is a re-introduction of House Bill 1608 of the 2015-2016 Legislative Session.