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House of Representatives
Session of 2017 - 2018 Regular Session

MEMORANDUM

Posted:	June 6, 2017 02:33 PM
From:	Representative Jim Marshall
To:	All House members
Subject:	Pre-Act 9 COLA

“Pre-Act 9 Retirees” have lost a lot of buying power since they retired before 2002. You may be aware that Act 9 of 2001 provided a retirement benefit enhancement to state and school employees who were actively employed at that time. Thus, the pre-Act 9 retirees missed out on this benefit increase. A pre-Act 9 retiree receives a pension valued at 25% less than the pension of a comparable post-Act 9 retiree. My legislation will provide a supplemental annuity, or COLA, to pre-Act 9 retirees, who did not receive a portion of his or her benefit as a lump sum, over a five-year period. The percentage rate of the increase will be based on one’s retirement date and greatest for the most long-term retirees. Please consider co-sponsoring this important legislation.

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