State Retirees Seek Regular COLA Adjustments

By Angel Riggs/Tulsa World Capitol Bureau ~ Several retired state workers called on lawmakers on Wednesday to approve an automatic annual cost-of-living increase in retirement benefits to help retirees keep up with rapidly rising prices for fuel and health care.

The cost-of-living adjustment, or COLA, would not further strain the state's tight budget because a 2 percent annual increase already is fac tored into the Oklahoma Public Employees Retirement System.

However, lawmakers must approve the 2 percent increase each year, said Sterling Zearley, executive director of the Oklahoma Public Employees Association.

Typically, he said, rather than giving an annual 2 percent increase, lawmakers will skip a year and then give the retirees a 4 percent increase during an election year.

Read the entire story at www.tulsaworld.com.

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