SCPP Advances Plan 1 COLA Bill to Legislature
RPEC has successfully secured a bill from the Select Committee on Pension Policy (SCPP) that will be heading to the Legislature when they convene in January. If you recall, part of last year’s successful ad-hoc COLA bill included language that stated the SCPP would study a pathway towards a permanent on-going COLA for Plan 1 benefit recipients. That language was inserted by RPEC! The SCPP and the Office of the State Actuary (OSA) completed that study and the OSA presented draft bill language to the SCPP for consideration.
At November’s SCPP meeting…
