On Thursday afternoon, the New Hampshire Senate voted to approve, at long last, a cost-of-living adjustment for state pension system members. The bill now goes on to Gov. Chris Sununu, who has pledged to sign it.
The 1.5 percent COLA, which would take effect after July 2020, would be the first such adjustment for retirees since 2010. For retired state employee Maralyn Doyle and many like her who’ve seen their pension devalued by inflation and increasing health care costs, this COLA is essential.
“I saved and planned carefully for my retirement,” Doyle said. “I did not count on the state discontinuing the COLA in 2010. When that was taken away, every year since, my income has gone down as expenses have gone up. As of now my pension has shrunk 15 percent. The 1.5 percent COLA is a step in the right direction.”
SEA President Rich Gulla said a COLA has been a priority for the SEA for many years.
“This long overdue measure could not have happened without the countless phone calls and emails from SEA/SEIU Local 1984 members,” SEA President Rich Gulla said. “We thank you for everything you’ve done and we thank the lawmakers who’ve supported this bill, especially Rep. Dianne Schuett, the lead sponsor and an SEA member.”
You can help us continue to fight for retirees by making a one-time contribution to our political action fund, SEAPAC, today. Simply use the form below to make a contribution: