An act relating to the postretirement adjustments to the retirement allowance for the State Teachers’ Retirement System of Vermont

This bill modifies how retirement payments are adjusted for teachers in Vermont's State Teachers' Retirement System based on changes in the Consumer Price Index. It establishes new caps on annual increases and decreases, limiting adjustments to five percent for those who retired before July 2022 and four percent for those retiring on or after that date. The legislation also changes how cost-of-living decreases are handled, allowing them to offset future increases rather than immediately reducing benefits. Additionally, the bill appropriates $3.7 million in state funds for the 2024 fiscal year to cover the system's employer contributions.