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COLA's for WV State Retirees

2023 Update

   COLAs remain something that I think our retirees deserve. With several other higher priority bills in 2023 such as HB2526, the largest Personal Income Tax Cut in WV history (which I supported), and pay raises for state employees, the only bill that we passed that which would increase retiree benefits was SB237 (which again I supported) and it was limited to those who retired under PERS or the State Teacher Retirement System.

Here are the two COLA bills that I co-sponsored in 2023, but they did not get out of committee.  Perhaps in 2024.

To provide a 5% cost of living increase for state retirees who make under $60,000 per year
Pending
House Pensions and Retirement
Committee
01/11/23
Provide a cost-of-living increase for certain individuals
Pending
House Pensions and Retirement
Committee
01/11/23

   It’s just not right that our retirees, some retired for decades, are still getting the same amount of retirement income as the day they retired.  If you retired in 2000, the purchasing power of your retirement check in 2022 would be less than 61 cents on every dollar.  State retirees deserve Automatic Cost of Living Adjustments (COLAs) to their retirement check.  This needs to be fixed, and I will work to make that happen.

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