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Committee advances bill to restore 3% COLA after broad testimony on retirees' hardship
Summary
Sen. O'Rourke's SB339 (LC560371) to restore a 3% cost-of-living adjustment moved out of committee after extensive testimony from retirees and ERS staff; ERS director warned of significant unfunded liability and urged a measured, funding-responsive approach.
The Senate Committee on Retirement advanced SB339 (LC560371), a bill addressing restoration of a 3% cost-of-living adjustment (COLA) for certain state retirees. Sen. O'Rourke presented the bill as a moral imperative to honor prior commitments and said retirees have experienced material declines in purchasing power since the COLA was removed in the 2008–09 financial period.
Multiple witnesses and retirees— including Chuck Clay, who…
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