HB329--COSTOFLIVINGADJUSTMENTFORPSRSANDPEERS
SPONSOR: Haley
Currently,retiredmembersofthePublicSchoolRetirementSystem
("PSRS")andthePublicEducationEmployeeRetirementSystem
("PEERS")mayreceiveyearlycostoflivingadjustmentsonmonthly
retirementallowances,butthetotalofthecostofliving
adjustmentsmustnotexceed80%ofamember'soriginalmonthly
retirementallowance.
Undertheprovisionsofthisbill,the80%limitationwillbe
subjecttoannualincreasesapprovedbytheBoardofTrustees
beginningDecember31,2025andeveryDecember31stthereafter,
excepttheincreasestothelimitationmustnotexceed1%peryear.
Additionally,iftheinvestmentsofthesystemearn2%orgreater
returnsthantheinvestmentreturnrateadoptedbytheBoard,the
limitationonthetotalcostoflivingadjustmentsmustbe
increasedby1%.However,thecostoflivingadjustmentsmustnot
exceed100%ofamember'soriginalmonthlyretirementallowance.
ThisbillisthesameasSB1421(2024).