Permanent COLA Improvement - Increase Cap from $18,000 to $25,000
Level of Government: State
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Dear Legislator:
As a constituent and a politically active union member, I request your support for legislation that will expand upon the permanent COLA law (Chapter 125 of 2000).
The Permanent COLA law that was enacted in 2000 represented a significant first step in protecting the purchasing power of retired public employees who had seen their fixed income pensions diminish over time from inflation. However, current law only provides COLA benefits based on the first $18,000 in annual pension benefits.
Our retirees have worked long and hard educating our children. Now, in their retirement, these public servants are having an increasingly difficult time as food, prescription drug, fuel and health care costs have skyrocketed. Unfortunately, this has resulted in many of our retirees having to make choices with their limited resources that they shouldn't have to make.
The time has come to expand upon the current law by providing inflation indexing on annual pensions over $18,000. This legislation will provide retired public employees with greater pension protection from inflation. I urge you to enact this important legislation during the 2008 Legislative Session.
Thank you.
Sincerely,
Your Name Here
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Bill Status Date: 5/12/2008
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