Dear Retirees’,
We need to fight for our Cost of Living Increases!
March 15, 2022
Senators Turner, (D), Stack (D), and Polistina (R), along with 16 other Senators and Assemblypersons have sponsored S260 and A2758, which would enable the reinstatement of the Cost of Living Adjustment (COLA) for all of the State-administered pension systems, in accordance with the “Pension Adjustment Act,” P.L.1958, c.143.9 (C.43:3B-1 et seq.).
This would return authority for COLA’s to the Pension Board of Trustees and allow for future COLA’s.
Many of us have not received a COLA since 2011. This is especially devastating with inflation presently at 7% per year! If this continues it will force retirees to move out of the State to seek less expensive places to live. As retired public employees we need the COLA to survive when inflation is quickly eroding our pension. It is important to protect the pensions of New Jersey public employees and encourage them to stay in New Jersey after they retire. This bill will give retired public employees a chance to keep up with inflation. We also need to amend the Pension Adjustment Act to require COLA’s based upon annual inflation.
We need the legislature to support us by voting yes to providing a fair and just pension COLA, and help keep retired public employees in New Jersey.
PLEASE ACT NOW!
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