Establishes the State Pension Cost of Living Reform Commission to analyze and recommend reinstatement of cost of living adjustments for retirees.
This bill establishes the State Pension Cost of Living Reform Commission to analyze and recommend reinstatement of cost of living adjustments (COLAs) for retirees and beneficiaries of State-administered defined benefit retirement systems. The commission will consist of the State Treasurer, the Director of the Division of Pensions and Benefits, and eight public members appointed by the Governor and legislative leaders.
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