RPEC Weekly Newsflash, May 12, 2023
Governor Inslee Signs Plan 1 COLA Bill
On the afternoon of Tuesday, May 9, Governor Jay Inslee signed Senate Bill 5350, providing a one-time 3% cost-of-living-adjustment (COLA) to PERS 1 and TRS 1 retirees not to exceed $110 per month. The bill also directs the Select Committee on Pension Policy (SCPP) to study and recommend an ongoing COLA proposal to the State Legislature. PERS 1 and TRS 1 retirees will see their monthly pension amounts increase by 3% or $110 (whichever is less) at the end of July 2023.
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2023
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