SB 24 Moves Favorably Through Senate Retirement Committee
The Senate Retirement Committee met earlier this morning and moved to report SB 24 by Senator Ed Price favorably to the full Senate.
As currently written, TRSL retirees who meet all of the following criteria on June 30, 2021, would be granted a monthly benefit increase equal to the lesser of $300 or the difference between their current benefit and $1,450:
SB 24 would provide a COLA to retirees living below the national poverty line, so LRTA will SUPPORT SB 24. During the Senate Retirement Committee, Senator Ed Price commented, “This is not the end. We will continue to fight for our retirees.” LRTA looks forward to working with Senator Price and other legislators in the future for COLAs for all retirees.
We will notify members of our next steps of action when the bill goes before the full Senate. Stay tuned!
Rodney R. Watson
LRTA Executive Director