SB113 provides a cost-of-living adjustment for retirees aged 60 and older who have been receiving benefits for at least five years.

SB113 introduces a cost-of-living adjustment for retirees under the Public Employees Retirement System and the Teachers Retirement System. Effective July 1, 2026, retirees aged 60 and older who have been receiving benefits for at least five years will receive an increase in their monthly annuity based on the annual increase in the consumer price index, as published by the United States Department of Labor, Bureau of Labor Statistics. This adjustment aims to help retirees maintain their purchasing power amidst inflation.

SB113 provides a cost-of-living adjustment for retirees aged 60 and older who have been receiving benefits for at least five years.

SB113 introduces a cost-of-living adjustment for retirees under the Public Employees Retirement System and the Teachers Retirement System. Effective July 1, 2026, retirees aged 60 and older who have been receiving benefits for at least five years will receive an increase in their monthly annuity based on the annual increase in the consumer price index, as published by the United States Department of Labor, Bureau of Labor Statistics. This adjustment aims to help retirees maintain their purchasing power amidst inflation.