Increases the base benefit amount for pension cost-of-living adjustments.

This bill amends the retirement and social security law to increase the base benefit amount for pension cost-of-living adjustments. Effective September 1, 2026, the base benefit amount will increase from eighteen thousand dollars to twenty-one thousand dollars. The cost-of-living adjustment will be computed based on the consumer price index, with adjustments rounded up to the nearest tenth of a percent, not exceeding three percent.

Increases the base benefit amount for pension cost-of-living adjustments.

This bill amends the retirement and social security law to increase the base benefit amount for pension cost-of-living adjustments. Effective September 1, 2026, the base benefit amount will increase from eighteen thousand dollars to twenty-one thousand dollars. The cost-of-living adjustment will be computed based on the consumer price index, with adjustments rounded up to the nearest tenth of a percent, not exceeding three percent.