Thursday, May 3, 2007

House Committee on Retirement approves LASERS-sponsored COLA

House Concurrent Resolution 7 by Representative Pete Schneider will be considered by the full House after it gained approval Thursday in the House Committee on Retirement.

HCR 7 calls for a cost-of-living adjustment (COLA) of up to 2.5 percent, as requested by LASERS Board of Trustees, and an additional COLA of up to 0.5 percent if enacted by the legislature, for a total COLA of up to 3 percent for eligible retirees.