PERS 1/TRS 1 COLA Clears Legislature

PERS 1/TRS 1 COLA Clears Legislature

Thanks to the tireless advocacy of retirees across the state, on April 19, 2023, the Washington State Legislature passed Senate Bill 5350, providing PERS 1 and TRS 1 retirees with a one-time 3% cost-of-living-adjustment not to exceed $110 per month.

Additionally, the bill directs the Select Committee on Pension Policy to study and recommend an annual PERS 1/TRS 1 COLA proposal to the full legislature. RPEC members are directly represented on the Select Committee on Pension Policy and will be heavily involved in the crafting of the ongoing COLA proposal.

The bill, which is…