Increased State & Teacher COLA Base Considered

SEPTEMBER 29, 2011: House leaders are eyeing mid-October to begin debate on the latest proposal to further reform the state's defined benefit pension plan. Earlier this month the Senate overwhelmingly passed S2018, which would bring about major changes to retirement benefits of employees hired after January 1, 2012.

Contained within S2018 (Download bill here) is a section raising the COLA base for state & teacher retirees to $13,000 - a $1,000 improvement over the current base enacted in 1997. Association officials are working with House leaders in an attempt to bring the base to a higher level than approved by the Senate.

"The House is reviewing what the Senate passed. We expect a House version of the bill to be reported from House Ways & Means sometime in October, after which the bill would be brought to the floor for debate," says Association Legislative Liaison Shawn Duhamel. "We're certainly letting our views be known and doing all we can to move the base as high as possible."