COLA Bill Signed into Law

May 29, 2026

Below is a recap of retirement-related bill activity from this week at the Capitol as the Legislature enters the final days of session, which adjourns Monday, June 1.

• HB 23 by Rep. Bacala was signed by the Governor and is now Act 280. The new law authorizes a 2% cost-of-living adjustment (COLA) to eligible retirees and beneficiaries. (Board position: Support)

• • COLA Amount: 2% (applied to the first $81,201 of annual benefit)
  • Effective Date: July 1, 2026
  • Eligibility: Based on age and length of time receiving a benefit

🔗 Learn more about COLA eligibility, timing, and what to expect here.

• HB 312 by Rep. McFarland received final passage following House concurrence and now awaits action by the Governor. The bill includes additional funding for LASERS to help reduce the System’s unfunded accrued liability (UAL). (Board position: Support)

• HB 4 by Rep. McMakin was heard in Senate and Governmental Affairs but failed to receive a favorable vote. As amended, the bill directed legislative committees to discuss a potential future constitutional convention. (Board position: Oppose)

• HB 27 by Rep. McMakin passed the Senate Floor. It proposes a constitutional amendment, subject to voter approval, that would remove the requirement for certain funds to be applied to the oldest outstanding UAL. (Board position: Neutral)
• HB 45 by Rep. Bacala received final passage following House concurrence and awaits the Governor’s signature. The bill requires certain employees eligible for the Municipal Police Employees’ Retirement System (MPERS) nonhazardous duty plan to transfer from LASERS to MPERS. (Board position: Neutral)

• HB 1134 by Rep. Braud received final passage following House concurrence and awaits the Governor’s signature. The bill creates a Back-Deferred Retirement Option Program for certain judges in LASERS. (Board position: Oppose)