Bill > S4003

This bill establishes the State Pension Cost of Living Reform Commission, a 10-member commission tasked with developing legislative recommendations for revising the statutes that govern the State-administered defined benefit retirement systems. The commission is charged with analyzing the viability of reinstating cost-of-living increases for all retirees and beneficiaries of these retirement systems, both as a whole and for each system's state and local parts separately. The commission must issue its final report with findings and recommendations within six months of its first meeting.