summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill establishes the State Pension Cost of Living Reform Commission. The commission will consist of 10 members that will examine ways in which the Legislature may reinstate cost of living adjustments (COLAs) for retirees and beneficiaries, including an analysis on the viability and cost of reinstatement to each of the State-administered defined benefit retirement systems separately and the State and Local Parts of each. The commission will propose its findings and recommended legislation to the Governor and the Legislature within six months of its first meeting. The commission will then expire. The commission will be comprised of the State Treasurer, the Director of the Division of Pensions and Benefits, and members of the public appointed by the Governor and by Legislative leadership from the Senate and the General Assembly.
AI Summary
This bill establishes the State Pension Cost of Living Reform Commission, a 10-member body tasked with exploring how to reinstate cost of living adjustments (COLAs) for state retirees and beneficiaries. COLAs are periodic increases to pensions designed to help them keep pace with inflation. The commission, which will include the State Treasurer, the Director of the Division of Pensions and Benefits, and public members appointed by the Governor and legislative leaders, will analyze the feasibility and cost of reinstating COLAs for various state-administered defined benefit retirement systems, considering each system and its "State Part" (funded by the state) and "Local Part" (funded by local governments) separately. Within six months of its first meeting, the commission must present its findings and proposed legislation to the Governor and the Legislature, after which it will be dissolved.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee (on 01/13/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2026/S1344 |
| BillText | https://pub.njleg.gov/Bills/2026/S1500/1344_I1.HTM |
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