New York A05875 amends laws to increase the base benefit amount for cost-of-living adjustments annually by reference to the consumer price index.

New York A05875 amends the retirement and social security law, the education law, and the administrative code of the city of New York to provide cost-of-living adjustments (COLA) for retirement benefits. The base benefit amount will be increased annually by reference to the consumer price index starting September 1, 2025. The annual percentage increase to the base amount will be 50% of the annual inflation, rounded up to the next higher one-tenth of one percent, but not more than 3% nor less than 1%.

New York A05875 amends laws to increase the base benefit amount for cost-of-living adjustments annually by reference to the consumer price index.

New York A05875 amends the retirement and social security law, the education law, and the administrative code of the city of New York to provide cost-of-living adjustments (COLA) for retirement benefits. The base benefit amount will be increased annually by reference to the consumer price index starting September 1, 2025. The annual percentage increase to the base amount will be 50% of the annual inflation, rounded up to the next higher one-tenth of one percent, but not more than 3% nor less than 1%.