Reinstates automatic COLA for retirement benefits of certain members of TPAF.

Bill A 884 reinstates automatic annual cost-of-living adjustments (COLAs) for retirement benefits of certain teachers and retirees in New Jersey's Teachers' Pension and Annuity Fund (TPAF). It would require the fund to automatically adjust retirement benefits each year based on inflation, without needing separate legislative approval. This directly affects current and retired educators covered by the TPAF who previously lost these automatic increases. The policy change ensures their retirement income keeps pace with rising living costs.