Maryland HB1138 clarifies the calculation of cost-of-living adjustments for retirees of the State Retirement and Pension System.

Maryland HB1138 specifies the method for calculating cost-of-living adjustments for retirees of the State Retirement and Pension System. The bill defines the "October 2025 Index Value" as the average of the Consumer Price Index values for September and November 2025. It mandates that the cost-of-living adjustment for a fiscal year cannot exceed the applicable rate cap. The bill also details how the cost-of-living rate is computed using the Consumer Price Index values for specific years, affecting retirees who receive benefits from the State Retirement and Pension System.

Maryland HB1138 clarifies the calculation of cost-of-living adjustments for retirees of the State Retirement and Pension System.

Maryland HB1138 specifies the method for calculating cost-of-living adjustments for retirees of the State Retirement and Pension System. The bill defines the "October 2025 Index Value" as the average of the Consumer Price Index values for September and November 2025. It mandates that the cost-of-living adjustment for a fiscal year cannot exceed the applicable rate cap. The bill also details how the cost-of-living rate is computed using the Consumer Price Index values for specific years, affecting retirees who receive benefits from the State Retirement and Pension System.