Section 22 State Retiree COLA Fund and State Retiree Benefits Adjustment 1

Section 1 of chapter 32 of the General Laws, as most recently amended by section 21 of chapter 73 of the acts of 2025, is hereby further amended by inserting after the definition of "Constitutional officers" the following definition:-
"Cost of Living Reserve Fund", a fund established in subdivision (6B) of section 22 to provide for the reservation of money for future cost of living liabilities of the retirement system; provided, however, that there shall be 1 fund for the state employees' and teachers' retirement systems and 1 fund each for any retirement system that opts in pursuant to said subdivision (6B) of said section 22.