Provides that retirees in the state pension system receive cost of living adjustments compounded into the retiree’s total retirement benefits each year beginning January 1, 2026. This act would be prospective only.

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Plain-English Summary

PUBLIC OFFICERS AND EMPLOYEES -- RETIREMENT SYSTEM -- CONTRIBUTIONS AND BENEFITS - Provides that retirees in the state pension system receive cost of living adjustments compounded into the retiree’s total retirement benefits each year beginning January 1, 2026. This act would be prospective only.

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