by
<a href="mailto:andrewp@awcnet.org">Andrew Pittelkau</a> | Feb 16, 2018
<a href="http://app.leg.wa.gov/billsummary?BillNumber=6340&Year=2017"><strong>SB 6340</strong></a> would increase pension benefits for PERS 1 retirees by increasing pension contribution rates paid by local governments.
SB 6340 would increase pension benefits for PERS 1 retirees by increasing pension contribution rates paid by local governments. The bill moved out of the Senate with a unanimous vote and would provide PERS 1 retirees with a one-time cost of living adjustment (COLA) of 2 percent with a maximum annual cap of $750. The bill has been referred to the House Appropriations Committee but is not yet scheduled for a hearing.
AWC has concerns with the costs associated with the size of the COLA. We will continue to advocate for a reasonable COLA policy focused on targeting retirees whose benefits have been impacted most by inflation.