EXPLANATION: Increase the Cost of Living Adjustment (COLA) for retirees by the lesser of 2% or $1,000 for the current fiscal year.

Amend the bill, as and if amended, Part IB, Section 117, GENERAL PROVISIONS, page 560, after line 29, by adding an appropriately numbered proviso to read:

/ (GP: COLA Increase) For the current fiscal year, the retirement allowance received by retirees and their surviving annuitants inclusive of supplemental allowances payable must be increased by the lesser of two percent or one thousand dollars./

Amend totals and titles to conform.