Gov. Haley Barbour’s study commission has delivered a list of sensible suggestions to shore up the financial condition of the retirement system for Mississippi’s public employees.
The most controversial part of the proposal will be those recommended for the cost-of-living allowance (COLA) adjustment.
The commission recommends:
A three-year freeze on the COLA allowance for current retirees.
A three-year delay on the COLA for new retirees.
Changing from an automatic 3 percent adjustment to one that is based on the actual rate of inflation.
All of this makes sense, even though it will be a tough sell in the Legislature.
McCombs Journal
12/22/11
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