SEANC presses retirement board for COLA from gains

Apr 29, 2022

SEANC was the only group present at the Retirement Systems Board of Trustees meeting on Thursday advocating for a much-needed Cost-of-Living Adjustment for state retirees this year.

Government Relations Director Suzanne Beasley told the board, “Retirees have suffered long enough waiting out previous administrations' investment decisions that did not have their best interests in mind. It is imperative that they receive a recurring COLA this year. We have one of the healthiest systems in the country and that needs to be reflected in members' benefits and you will not be able to sell it to them that a COLA is not possible because it is."

Beasley's sentiments were echoed by Retirement Systems Trustee and SEANC District 38 Chairwoman Margaret Reader, a retiree herself, as well as State Human Resources Director Barbara Gibson. Watch the whole exchange in the video above.

The system has made significant gains over the last few years with a booming economy and sound management. It's time for the board to support a true, recurring increase for retirees.

Retirees, we want to hear from you! With the General Assembly's short session just around the corner, we need you to send us a short video telling us why you need a COLA! We will use these videos to press home the need for the increase on social media throughout the session.