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.