Providing a cost-of-living adjustment for plan 1 retirees of the teachers' retirement system and public employees' retirement system.

This bill provides a cost-of-living adjustment for retirees in Plan 1 of the teachers' retirement system and the public employees' retirement system. Starting July 1, 2026, eligible retirees will receive a three percent increase to their monthly benefit, capped at $110. This change affects individuals receiving benefits from these specific retirement plans.

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