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Pennsylvania House of Representatives
05/10/2024 05:20 PM
Pennsylvania House of Representatives
https://www.legis.state.pa.us/cfdocs/Legis/CSM/showMemoPublic.cfm?chamber=H&SPick=20210&cosponId=36496
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House Co-Sponsorship Memoranda

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House of Representatives
Session of 2021 - 2022 Regular Session

MEMORANDUM

Posted: November 10, 2021 01:36 PM
From: Representative Martina A. White
To: All House members
Subject: COLA for our retired police officers and firefighters
 
Nearly twenty years ago, the General Assembly provided a cost-of-living adjustment or COLA to municipal police officers and firefighters who retired before January 1, 1996. Since 2002, the Bureau of Labor Statistics indicates that the consumer price index has increased 52.48% while the pension for our retired police officers and firefighters has remained stagnant.
 
In the near future, I plan to introduce legislation similar to the 2002 COLA for our retired police officers and firefighters. This proposed COLA would add an additional $480 annually to the pension of an officer with 20 years’ experience and 20 years in retirement.
 
Amount of Benefit-The monthly COLA that shall be calculated as follows:
  1. The base adjustment shall be determined by multiplying 20¢ by the years of service and then multiplying that product by the years on retirement.
  2. The longevity factor shall be determined as the sum of the products calculated by multiplying 0.025 by the years on retirement and 0.05 by the years on retirement in excess of 25, if any.
  3. The longevity adjustment shall be determined by multiplying the base adjustment calculated under paragraph (1) by the longevity factor calculated under paragraph (2).
  4. The COLA payable under this bill shall be the sum of the base adjustment calculated under paragraph (1) and the longevity adjustment calculated under paragraph (3).
 
These women and men put their lives on the line serving our communities and providing a public service. I hope you will join me in co-sponsoring this important piece of legislation and provide a COLA to our retired public servants.
 


Introduced as HB2237