RPEC Weekly ACTION Newsletter – 4-29-2019
In This Edition
- Final State Budget News
Final State Budget News
Unfortunately, despite the efforts and pressure from retirees across the state, the proposal to provide a one-time 3% COLA to PERS/TRS Plan 1 retirees did not get included in the final state budget. This is especially disappointing considering funding for the COLA was included in both the Governor’s and House of Representative’s budgets.
We will continue to fight to ensure the Legislature acts to protect Plan 1 retirees from the loss of purchasing power that continues to undermine their retirement security.
The Legislature did raise the monthly Medicare Benefit for retirees under PEBB from $168 to $183 per month starting in January 2020. This modest increase will provide retirees with some relief from the large increases in premiums that have occurred in recent years. But it does not go far enough and retirees will need to continue to press the Legislature to address the need for affordable and adequate options for retiree health care.