Establishes State Pension Cost of Living Reform Commission.
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Progress
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- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill creates the State Pension Cost of Living Reform Commission to study and recommend changes to New Jersey’s state-administered defined benefit retirement systems. The commission will investigate the feasibility of reinstating cost-of-living adjustments (COLAs) for retirees and beneficiaries, analyzing the potential costs and impacts across different parts of the systems. It will also propose legislative revisions to relevant statutes. The commission’s findings and recommendations will be submitted to the Governor and the Legislature.
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Sponsors
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1 on record
Primary sponsor
Joseph Pennacchio
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