Bill
HB 2521
Overview: HB 2521, "To provide a 5% cost of living increase for state retirees who make under $60,000 per year", has been introduced and is currently in the House Investments commi
Overview: HB 2521, "To provide a 5% cost of living increase for state retirees who make under $60,000 per year", has been introduced and is currently in the House Investments committee.
Purpose and Intent: The bill aims to provide a 5% cost of living increase for state retirees who have an annual income of less than $60,000. The goal is to help offset the impact of inflation and rising costs of living for lower-income state retirees.
Key Provisions:
- Grants a 5% cost of living increase for state retirees with an annual income of less than $60,000
- Requires the state's retirement system to implement the cost of living adjustment
- Specifies that the increase will be applied to the retiree's monthly pension or annuity payments
Affected Parties and Impacts: The bill would directly benefit state retirees who meet the income threshold, providing them with additional financial support to help maintain their standard of living.
Procedural and Timeline Considerations: The bill is currently in the House Investments committee, where it will be considered and potentially amended before moving to the full House for further deliberation.
Compiled from official sources — confirm details with the bill’s official record.
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