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Committee advances bill letting county boards set smaller cost-of-living increases; key amendments fail
Summary
House Bill 754 would allow county retirement boards to grant cost-of-living adjustments up to, but not exceeding, the change in the consumer price index rather than requiring COLAs equal the CPI.
House Bill 754, sponsored by Representative Harkins, would amend the County Pension Law (Act 96 of 1971) to allow county retirement boards to grant a cost-of-living adjustment (COLA) that may be any percentage up to, but not more than, the applicable change in the consumer price index rather than requiring the COLA to equal the CPI change.
Representative Harkins said the change would give retirement boards flexibility to grant smaller COLAs when the CPI is high and counties cannot afford the full index increase. "My…
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