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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 one‑time ad hoc COLA is an adequate bridge to an ongoing COLA or other structural reforms. Representative Jacobson and others expressed support for an ongoing COLA in principle but said the committee could endorse an ad hoc payment as an immediate assistance measure. Senator Conway asked members to keep affordability and broader budget tradeoffs in mind.
During public comment the committee heard multiple retirees and advocacy representatives. Karen Keller, a member of the Washington State School Retirees Association, testified: 'I have lost out on a total of $282,360 since I retired,' and urged endorsement of the merger bill and COLA options. Firefighter representatives urged caution about using one plan’s surplus to support other plans and opposed aspects of SB 5085. Actuarial staff (Michael Harbour, OSA) told members prior analysis showed COLAs increased obligations by about $2,000,000,000 in the merger context and said OSA can produce more granular 'merger with and without COLA' analyses for the next session.
The committee voted on a motion to send the letter endorsing House Bill 1474 (or a comparable Senate ad hoc COLA) to the fiscal committees; the motion passed on a roll call of 15 ayes and 4 excused. Several members said they view the ad hoc COLA as a bridge while pressing for a permanent solution next session.
