(December 7, 2017) Yesterday the House Committee on Aging and Long Term Care heard sponsor testimony on HB 413, the bill to reduce retirees’ COLA from a fixed 3% to actual inflation up to 2.5%. PERI was at the hearing and listened as the bill sponsor, Rep. Gary Scherer, told lawmakers this is the beginning of the conversation. We asked Rep. Scherer last week to give us some assurance the bill would not be rushed through the General Assembly in the last weeks of 2017. We believe any piece of legislation that has such an important impact on retirees must be carefully considered and Rep. Scherer agreed with us. We look forward to the opportunity to present testimony in full opposition to HB 413 later on this winter. PERI would like to thank PERI members from Central Ohio who took time to attend the hearing yesterday and help us fill the room. Committee members were aware that many retirees were listening to their remarks.
The House of Representatives will soon recess for the remainder of the year and not return until January. Our objective is to use this time to continue our meetings with legislators and work toward a resolution that would hold retirees harmless and retain the current fixed 3% COLA. We remain optimistic that we can resolve this issue with members of the General Assembly. PERI will continue to keep you posted on developments as debate on HB 413 continues into 2018.
President & CEO, Public Employee Retirees, Inc.