No COLA This Year

In a special meeting, the State Senate and Retirement Committee on Thursday approved sending a bill to give state retirees a 2 percent cost of living adjustment for an actuarial study and then to return next session to consider the increase. A House bill originally proposed a 4 percent COLA. Senate President Pro Tem Greg Treat says the study will give the Legislature a complete picture of the costs and impacts of granting a COLA. Senate Democratic Leader Kay Floyd calls it disappointing.

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