Increase the Cost of Living Adjustment
As a constituent and a proud union member, I ask for your support in ensuring the continued retirement security for public retirees.
In 2000, the state enacted a cost of living adjustment (COLA) for retirees who are members of a public retirement system.
While the increases in the CPI have remained relatively modest since the enactment of the COLA, other costs and factors, such as rising healthcare costs and longer life expectancies have had a significant impact on retiree income security.
The COLA should be adjusted to reflect these factors, in order to provide income security for retirees.
I respectfully ask you to raise this issue with your colleagues and with the leadership of your conference, and work to ensure that all public retirees are able to remain independent and enjoy a secure retirement.
I urge you to support initiatives that address this issue, by either increasing the amount of pensionable income and/or the percentage of CPI used to calculate the COLA.
Thank you for your support of this important issue. I look forward to your reply.
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