- Introduced -
SB 755 - This act makes several modifications to the Public School Retirement System as follows:
(1) Increases the cost of living adjustment cap (COLA) from 75% to 80%;
(2) Applies the cost of living adjustment on the third January after retirement to those persons who retire after January 1, 2000;
(3) Provides a one-time 3.5% adjustment for retirees and beneficiaries; and
(4) Extends the twenty-five and out for three more years (until July 1, 2003).
Portions of this act are contained in CCS/SS/SCS/HB 1808 (TAT).
TOM MORTON