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Retiree witnesses urge committee to pass ad hoc COLA for PERS 1 retirees; cities warn of local cost impacts
Summary
Supporters, including many PERS 1 retirees, urged passage of SSB 5862, a one-time 3% ad hoc COLA (capped at $110/month) for qualifying PERS 1 and TRS 1 retirees; local-government representatives cautioned the committee about potential impacts on employers and asked that costs not be shifted to local jurisdictions.
David Pringle, committee staff, briefed members on substitute Senate Bill 5862, which would provide a one-time 3% increase (up to $110 per month) to PERS 1 and TRS 1 retirees who have been retired for at least one year by 07/01/2026. Pringle said similar ad hoc increases have been provided in recent years and that the state actuary estimates contribution-rate…
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