Reinstates automatic COLAs for retirement benefits of certain SPRS members.

This bill reinstates automatic cost-of-living adjustments (COLAs) for retirement benefits of active and retired New Jersey State Police members enrolled in the State Police Retirement System (SPRS). It amends existing laws (P.L.1965, c.89 and P.L.1958, c.143) to restore annual benefit increases that adjust for inflation, directly affecting SPRS members. The key mechanism requires the retirement system to automatically raise benefits each year based on inflation rates, without needing separate legislative action. This change specifically applies to SPRS members, ensuring their retirement income keeps pace with rising living costs.