Idaho Lawmakers Set to Hit State Retirees With No COLA
AARP Strongly Opposes Decision - As Costs for the Basics Soar, No COLA is Too Harsh for Many Retirees
BOISE, Idaho, Feb. 19 /PRNewswire-USNewswire/ -- Already struggling with soaring health care costs and dwindling retirement savings, state retirees are now one step closer to seeing no cost of living adjustment. For the first time in Idaho state history, with an unannounced hearing yesterday, the House State Affairs Committee pressed forward with legislation (HCR 42) to deny all state retirees a modest 1% COLA.
The money for the COLA is not new revenue; rather, it's already in the Public Employee Retirement System of Idaho -- which has been rated as one of the strongest state retirement funds in the nation. AARP opposes the legislation and is encouraging all state retirees, AARP members and the public to call their State Representatives toll-free at 1-800-626-0471 and urge them to vote against the bill when it comes before the full House.
"AARP is calling on lawmakers to do what's right for Idaho retirees -- deliver the COLA," said Jim Wordelman, State Director for AARP in Idaho. "Health insurance premiums are expected to double; prescription drug prices saw record increases; utility and grocery costs are on the rise; the loss of this COLA means tougher times ahead for state retirees."
Due to legislative action last year, many older state retirees lost their promised state health insurance, coupled with no Social Security COLA this year, some older Idahoans are having trouble affording the basics. A nationwide AARP survey found 55% of older Americans already have difficulty paying for the basics such as food and medicine while 44% said they had trouble affording their utility bills.
"Current economic times mean a scaled back COLA, but for many Idahoans even a small amount of money can mean the difference between filling a grocery cart and filling a prescription," added Wordelman.
AARP is Idaho's largest membership organization with over 180,000 members.
Follow us on Twitter @AARPIdaho and Facebook: AARP Idaho
SOURCE AARP Idaho
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