Modifies the total cost of living adjustments for members of the Public School Retirement System and the Public Education Employee Retirement System

SB 709 modifies cost of living adjustments (COLAs) for members of two retirement systems: the Public School Retirement System and the Public Education Employee Retirement System. The bill does not specify whether adjustments will increase, decrease, or change calculation methods, as the provided abstract lacks these details. It is currently in the early stages of review (first read February 2025, referred to committee March 2025). Without additional information on the specific changes to COLAs, a detailed summary of mechanisms or affected individuals cannot be provided.