The conference committee report for SB 10 has been filed; it includes a cost-of-living adjustment of 2-6% for retirees, as well as supplemental (one-time) checks for retirees aged 70+. The negotiated bill must now be approved by the House and Senate before the session ends Monday.
SB 10 includes a cost of living adjustment beginning in January 2024 for retirees who retired on or before Aug. 31, 2020, as follows:
The cost-of-living adjustment is dependent on passage of the constitutional amendment proposed in HJR 2.
In addition, the bill provides a one-time check for older retirees, payable no later than September 2023, as follows:
The supplemental check is directly funded through appropriations and is not dependent on passage of the constitutional amendment.
We will update with a new entry when the House/Senate vote on SB 10.