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Select committee endorses a one‑time ad hoc COLA (HB 1474) and hears emotional public testimony urging broader action
Summary
The committee voted to send a letter endorsing House Bill 1474 — a one‑time 3% ad hoc COLA with a $110 monthly cap — and heard public commenters urging either full COLA restoration or caution about larger structural bills (SB 5085).
Committee staff briefed members on House Bill 1474, an OFM‑requested bill that would grant a one‑time 3% pension benefit increase to eligible Plan 1 annuitants, capped at $110 monthly and affecting roughly 75% of recipients. Melinda Ozlockson told the committee the bill had received fiscal hearings and staff prepared a draft letter to fiscal committees endorsing an ad hoc COLA if a similar policy is introduced.
Members debated whether a…
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