Establishes the State Pension Cost of Living Reform Commission to analyze and recommend reinstatement of cost of living adjustments for retirees and.
This bill creates the State Pension Cost of Living Reform Commission to study and recommend ways to reinstate cost of living adjustments (COLAs) for retirees and beneficiaries of New Jersey's state-administered defined benefit retirement systems. The commission will analyze the viability and cost of reinstatement for each retirement system, the State Part and Local Part of each system, and for the political subdivisions of the state.
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