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Bill

OH

Bill

S 495

Reinstates automatic COLAs for retirement benefits of certain SPRS members.

2026-2027 Regular Session Introduced by Owen Henry and 1 co-sponsor

New Jersey bill restores automatic inflation adjustments for select State Police Retirement System retirees' pensions, increasing state benefit obligations.

Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee
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Bill Summary · S 495

Legislative bill overview

S 495 reinstates automatic Cost-of-Living Adjustments (COLAs) for retirement benefits received by certain members of New Jersey's State Police Retirement System (SPRS). The bill targets specific cohorts of SPRS retirees who previously had automatic COLA provisions but lost them due to prior legislation or policy changes.

Why is this important

Retirees on fixed incomes are vulnerable to inflation eroding their purchasing power over time. Reinstating automatic COLAs directly affects the financial security of retired state police officers and their families, while also carrying fiscal implications for New Jersey's pension obligations and state budget.

Potential points of contention

  • Fiscal cost: Automatic COLAs increase long-term pension liabilities; the state must identify funding sources or explain budget impacts
  • Fairness and precedent: Other public employee groups may seek similar restoration, potentially expanding state obligations significantly
  • Targeting specificity: The bill's limitation to "certain SPRS members" raises questions about which retirees qualify and whether the criteria are equitable across the retirement population

Compiled from official sources — confirm details with the bill’s official record.

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