Today’s blog post was written by Andrew Collier, Communications Director at NPPC.
This year, several state legislatures have passed or attempted to pass a COLA for their retired public employees. In New Hampshire, retirees got one step closer to making that happen, due to their strong advocacy and education on the issue.
Much like other states where NPPC has a coalition, retired public employees in New Hampshire haven’t seen a COLA in a number of years. For New Hampshire, it’s been nine long years. While their retirement wages remain stagnant and inflation increases the cost of medicine, groceries, and other necessary items, New Hampshire retirees find it difficult to make ends meet. Relief could be on its way with HB616-FN.
HB616-FN, which just passed the full State House of Representatives with a vote of 219-150, would provide retirees with a necessary boost to their retirement benefits. Not only was this a big victory for retirees and the New Hampshire Retirement Security Coalition (NHRSC), NPPC’s coalition in the state, it was a broad piece of bipartisan legislation.
Retired public employees in the state would receive a 1.5% COLA, which can make a big difference for retirees. The COLA applies to all retirees who have been retired at least 60 months, or five years, and applies to their first $50,000 a year in benefits. The bill now moves to the State Senate.