Section 90 Special Commission for State and Teacher COLA

There shall be a special commission analysis and study of cost-of-living adjustments for the members of the state employees' retirement system and state teachers' retirement system. The study shall include, but not be limited to, the development of a policy that provides for increases in the maximum base amount, on which timely periodic cost-of living adjustments are calculated, and determination of its fiscal impact. The study shall explore methods of funding timely periodic cost-of-living adjustments for members of said systems and enhanced benefits for long term retired members of said systems. The commission may request, and shall receive, any and all actuarial reports and studies from the public employee retirement administration commission relevant to support the work of the commission.
The commission shall consist of the following members or their designee: the chairs of the house and senate committees on ways and means, the chairs of the joint committee on public service, the secretary of administration and finance, the executive director of the public employee retirement administration commission, and the following 3 members to be appointed by the Governor: 1 of whom shall be a representative appointed by the Retired State, County and Municipal Employees Association of Massachusetts, 1 of whom shall be a representative appointed by the state board of retirement, and 1 of whom shall be a representative appointed by the state teachers' retirement board. The board shall select a chair.
Not later than February 1, 2025, the commission shall file a report with the clerks of the house of representatives and the senate providing the results of its study and its recommendations, if any, together with proposed drafts of legislation necessary to carry its recommendations into effect.

This section establishes a special commission to review the cost-of-living adjustments for the members of the state employees' retirement system and state teachers' retirement system.