During a recent government meeting, discussions centered on the pressing need for increased cost-of-living adjustments (COLAs) for Plan 1 retirees in Washington. Several speakers, including retired educators and representatives from public employee councils, voiced their concerns regarding the inadequacy of the current 3% COLA, especially in light of the financial struggles faced by long-serving retirees.

One retiree highlighted the historical context, noting that many experienced educators went without raises for seven consecutive years during the 1990s, despite a thriving economy. This situation, they argued, forced retirees to effectively subsidize state budgets at their own expense. The speaker emphasized that the current COLA is insufficient, likening it to a \"diet cola,\" and called for a more equitable solution that reflects the sacrifices made by retirees over the years.

Claire Olivers, president of the Retired Public Employees Council of Washington, reinforced the call for reinstating a recurring COLA for Plan 1 retirees, who are currently the only group without automatic adjustments. She pointed out that since the removal of the recurring COLA in 2011, retirees have lost 40% of their purchasing power, urging the committee to prioritize these retirees in future legislative sessions.

Fred Yancey, representing school administrators and retirees, echoed these sentiments, raising concerns about the broader implications of inadequate pensions, including homelessness and reliance on social services among retirees. He criticized local governments for underfunding pension contributions over the years, which has exacerbated the financial challenges faced by former employees.

The meeting underscored a growing consensus among retirees and advocates for a reevaluation of pension policies to ensure fair and sustainable support for those who dedicated their careers to public service. The committee is expected to consider these testimonies as they prepare recommendations for the upcoming legislative session.