Committee advances work on Plan 1 COLA options, directs staff to draft ad hoc COLA language
The executive committee reviewed staff proposals to keep cost-of-living adjustments for Plan 1 retirees on the budget table, asked staff for draft language and actuarial data, and scheduled an ad hoc COLA briefing for July. Retiree groups urged action; members debated funding trade-offs and fiscal constraints.
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The executive committee continued work on restoring cost-of-living adjustments for Plan 1 retirees, asking staff to prepare bill language and actuarial options and to bring an informational briefing on ad hoc COLA proposals to the July meeting. Chair Senator Conway said the goal is "to ensure that our budget writers will recognize a priority that the state has to a COLA for our Plan 1 members."
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