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Retiree COLA Bill Passes House Committee

A bill that would provide a four percent cost of living adjustment (COLA) for retirees passed out of a House Appropriations Committee on Thursday.

 

Senate Bill 1637 provides retirees in Oklahoma’s retirement systems with a COLA effective July1.

 

“Retirees have not received a COLA since 2008, so this bill would essentially double the amount provided,” said OPEA Deputy Director Scott Barger. “It passed the committee unanimously Thursday. Legislators will tweak some of the language before it goes to the House floor for a vote. We are hoping that happens within the next couple of weeks,” Barger said.

Posted on Fri, April 9, 2010 by Mark Beutler

1 comment (Add your own)

1. ernessch wrote:
Excellent news. I was afraid that they would kill this bill due to losses in the fund over the past few years. I have been retired since 7-07 so this will be my first retirement raise. Lets hope that they include the yearly COLA as OPEA has been attempting for the last few years. I wish active employees could get a raise but would encourage those thinking about retiring soon to check the language in the bill and past bills since it usually says that you have to have been retired as of June 30th to qualify. If they go to yearly COLA's this date will be important for you to qualify. The language may be different this year if the yearly COLA passes.

Fri, April 9, 2010 @ 2:58 PM

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