Reinstates automatic COLAs for retirement benefits of certain SPRS members.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill reinstates automatic cost-of-living adjustments (COLAs) for annual pension, ordinary disability pension, and accidental disability pension retirement benefits for certain members of the State Police Retirement System (SPRS). It aims to address the impact of inflation on retirees’ benefits, which were previously suspended due to underfunding of the system. The bill includes provisions to limit the amount of the adjustment and prioritize long-term retirees. It also amends existing laws to facilitate the implementation of these COLAs.
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Sponsors
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3 on record
Primary sponsor
Cosponsors
Douglas Steinhardt
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