Increases the base benefit amount for cost-of-living adjustments for retirement systems to $21,000.
This bill amends the Retirement and Social Security Law to increase the base benefit amount for cost-of-living adjustments (COLA) for retirement systems from $18,000 to $21,000. The change will take effect on September 1, 2026. This adjustment aims to better reflect the current cost of living for retirees.
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