COLA Bill Vetoed by Governor

HB 42, sponsored by Representative Sam Jones, was vetoed by the Governor today. The bill would have authorized a cost-of-living adjustment (COLA) of up to 1.5 percent (based on the amount of funds available in the Experience Account) for eligible retirees and beneficiaries payable July 1, 2015. The legislation also contained a number of pension reform provisions. HB 42 was supported by the LASERS Board of Trustees.