Committee focuses on ad hoc Plan 1 COLA and asks staff to draft options
Members prioritized an ad hoc cost-of-living adjustment (COLA) for Plan 1 members as the immediate recommendation for the next biennium and asked staff to prepare proposals and potential budget-language that would require riders to consider COLA during budget cycles; staff will bring a June briefing and fuller July item.
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Senator Conway led discussion on options to provide relief for Plan 1 members, emphasizing an immediate ad hoc COLA for the next biennium. "I think probably the most important recommendation we need to do is for a cola for the next biennium. In other words, an ad hoc cola," Conway said, urging the committee to keep that issue central while staff explores budget-language options.
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