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Committee hears hours of testimony on House Bill 536, a proposed permanent COLA for state retirees
Summary
House Bill 536 would grant a 1.5% permanent cost-of-living adjustment on the first $50,000 of retirement allowance for eligible New Hampshire Retirement System members; the committee heard detailed testimony from the bill sponsor, retirement-system staff, unions, firefighters and retirees and requested actuarial and fiscal follow-up.
The Executive Departments and Administration Committee held an extended public hearing on House Bill 536, a bill that would grant a permanent cost-of-living adjustment (COLA) of 1.5% on the first $50,000 of a retiree’s annual allowance for eligible members of the New Hampshire Retirement System (NHRS).
Sponsor Representative Jackie Groda told the committee the bill would give a 1.5% supplement on the first $50,000, equivalent to $750 on a $50,000 pension, and asked the committee to consider the policy question of whether retirees should receive a permanent COLA. She said the bill has appeared before the committee previously and that, historically, the legislature has…
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