Reinstates COLAs for retirement benefits of retired PFRS members.
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill reinstates cost-of-living adjustments (COLAs) for retirement benefits received by retired members of the Police and Firemen’s Retirement System (PFRS). It amends existing law to require the PFRS Board of Trustees to implement automatic COLAs for monthly retirement allowances and pension benefits, applying to retirees who retired before or on the bill’s effective date. Retroactive payments are not permitted, and the adjustments will be made in monthly installments, aligning with existing benefit structures.
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