Relates to increasing the base benefit amount for computation of pension cost-of-living adjustments

Bill S 8160 proposes to increase the base benefit amount used for calculating pension cost-of-living adjustments (COLAs) for retirees. Currently, these adjustments are computed on a base benefit amount not exceeding $18,000. This bill would raise that base to $21,000, effective September 1, 2026, for pensions