The COLA bill, HB 42, sponsored by Representative Sam Jones, was reported with amendments by the Senate Retirement Committee on Monday, June 1. If passed, HB 42 would authorize a Cost-of-Living Adjustment (COLA) of up to 1.5 percent for eligible LASERS retirees and beneficiaries. The amendments add restrictions which address long-term system stability and will mean that no COLA should be anticipated in 2016.
The LASERS Board of Trustees supports this legislation. It now goes to the Senate floor for consideration.
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