Increases the cost-of-living adjustment for New York City Retirement Systems and Pension Funds.

This bill amends the New York City Retirement Systems and Pension Funds to increase the cost-of-living adjustment (COLA) base limit of $18,000 by 50% of the increase in the consumer price index each year, starting September 1, 2025. The annual percentage increase to the base amount is rounded up to the next higher one-tenth of one percent and shall not exceed three percent nor be less than one percent.

Increases the cost-of-living adjustment for New York City Retirement Systems and Pension Funds.

This bill amends the New York City Retirement Systems and Pension Funds to increase the cost-of-living adjustment (COLA) base limit of $18,000 by 50% of the increase in the consumer price index each year, starting September 1, 2025. The annual percentage increase to the base amount is rounded up to the next higher one-tenth of one percent and shall not exceed three percent nor be less than one percent.