Bill > S0777

This bill requires that all present and former state employees, active and retired members, and beneficiaries receiving any retirement, disability, or death allowance receive a $2,000 annual increase per year, starting on July 1, 2026. The increase will apply to anyone receiving a retirement benefit, regardless of when they retired, and will be an additional flat dollar amount on top of any existing cost-of-living adjustments. This provision is being added as a new subsection (j) to an existing law that governs retirement system contributions and benefits. The bill appears to be designed to provide a meaningful financial boost to retirees, ensuring that all retired state employees receive a consistent annual increase to help offset the rising cost of living. The legislation will take effect immediately upon passage, though the $2,000 annual increase will not be implemented until July 1, 2026.

Budget and Finance

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