Provides a cost-of-living adjustment for retirees under the Public Employees Retirement System and Teachers Retirement System.

Starting July 1, 2026, retirees aged 60 and older who have been receiving an annuity for at least five years will receive a cost-of-living adjustment in their monthly retirement payments. The adjustment will be equal to the annual increase in the consumer price index as published by the United States Department of Labor, Bureau of Labor Statistics. This applies to both the Public Employees Retirement System and the Teachers Retirement System.

Provides a cost-of-living adjustment for retirees under the Public Employees Retirement System and Teachers Retirement System.

Starting July 1, 2026, retirees aged 60 and older who have been receiving an annuity for at least five years will receive a cost-of-living adjustment in their monthly retirement payments. The adjustment will be equal to the annual increase in the consumer price index as published by the United States Department of Labor, Bureau of Labor Statistics. This applies to both the Public Employees Retirement System and the Teachers Retirement System.