Employees' Retirement System and Teachers' Retirement System; retirees and beneficiaries, two percent cost-of-living benefit increase effective October 1, 2026

This bill would increase benefits for certain retired state and local employees and teachers, as well as their beneficiaries, starting October 1, 2026. Eligible retirees and beneficiaries would receive a 2% cost-of-living increase in their monthly benefits, with a minimum increase of $15 per month. The increases are subject to legislative funding and would not apply to individuals whose Medicaid eligibility would be negatively affected.

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