Well the state is poised to pass legislation today that will force all state employees (active and retired) to chose between health care insurance ( which we will have to pay an unknown premium for) and annual cost of living raises once retired. We are supposed to be guaranteed 3% cola per year that is compounded. They are saying it is not unconstitutional because they are giving everyone a choice. They are really providing no choice at all. Obviously, I will have to keep my health insurance.

It means my monthly pension will be flat for 5 years and then you can get an annual cola that is not compounded that is 1/2% of the increase in the cost of living -- no higher than 3%. Part of the money we pay into the pension is supposed to fund the colas. I retired thinking my pension would increase by 3% every year

The problem is that the state has not paid its share into the pensions for years and instead has "borrowed" (stolen) the money for other projects. This will be immediately challenged in the courts as the state constitution guarantees the pension benefits that are in effect when you are hired. But it could take years of litigation. They are leaving state judges out of the changes to their pensions so they would not be biased against the legislation.