SCPP to Begin Ongoing COLA Study

On May 21, the Select Committee on Pension Policy (SCPP) will take its next steps toward restoring an ongoing cost-of-living adjustment (COLA) for PERS 1 and TRS 1 retirees, the only retired public employees represented by RPEC to not receive annual automatic COLAs.

The Office of the State Actuary (OSA) is expected to deliver a presentation that provides information on the history of PERS 1 and TRS 1 and the various decisions that have impacted the plans over the years. This will set the stage for progress to be made on the SCPP’s legislatively mandated task of developing a proposal…