KALAMAZOO, MI (WKZO AM/FM) — Kalamazoo County board chair John Taylor may have something extra in the Christmas stocking for county retirees this year.
He says he would like to explore giving them a cost of living increase, something they haven’t gotten in a while.
Taylor says they wouldn’t be able to afford a true cost of living increase, but says he plans to look into some sort of hike in their pension checks.
The cost of living has gone up just over 57% according to the Bureau of Labor Statistics.
What you could buy for a dollar at the turn of the century would only buy about 56¢ worth today.
Social Security gives its recipients a cost of living increase every year based on the consumer price index.
The county’s retirement system for former employees is among the best funded in the state, but if the commission agrees to pursue the idea, it will still take staff consultation with the retirees, lawyers and actuarial experts, before a proposal could be considered.
They deserve a cola. Been a long time coming.