PASSED SB 10: RETIRED TEACHERS COST-OF-LIVING ADJUSTMENT

SB 10: 

gives a bonus stipend for certain retired teachers. Retired teachers who are 75 and older will receive a bonus check of $7,500, and retirees between the ages of 70 and 74 will receive a $2,400 bonus check. Eligible retirees will also receive between a 2 percent and 6 percent cost-of-living adjustment depending on when they retire. The supplemental checks and the cost-of-living adjustment provide $5 billion in benefit enhancement.