HB3426: Providing a cost-of-living provision for certain persons retired under the Public Employees Retirement System and the Teachers Retirement System

Legislative Summary

The purpose of this bill is to provide a cost-of-living increase, based on the annual increase in the consumer price index, for persons under the Public Employees Retirement Act and Teachers Retirement System that are at least 60 years of age and that have received retirement payments for at least five years.