Cost-of-living adjustments were suspended in 2011 and won't return for many years, even with full contributions -- but restoring them now costs $3.6 billion.
A proposal first made 11 years ago to restore cost-of-living adjustments to the pensions of retired public workers in New Jersey may be finally picking up speed.
Connecticut is now ranked worst by that measure for the first time since fiscal 2013, back when New Jersey ranked third from the bottom, also better off than Illinois.
“This is probably a piece that would be attractive of keeping quality people,” Asm. Vince Mazzeo said. “I don’t know – I hope we don’t make mistakes we did in the past. And I don’t think this bill will.”