WAKULLA COUNTY, FL — Florida police, fire, and EMS retirees could soon see annual increases to their pensions under legislation that would restore a cost-of-living adjustment that has been absent for 15 years.
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Senate Bill 7028, if signed into law, would bring back the cost-of-living adjustment, known as a COLA, for special risk retirees. Officers, firefighters, and EMS personnel who retired or will retire after July 1, 2011, would receive a minimum 1.5% annual increase to their pension. The increase would apply to those who joined the Florida Retirement System on or after July 1, 2011, and have been retired for 5 or more years. If signed into law, it would take effect July 1.
Wakulla County Fire Rescue Battalion Chief Zac Lyons, who is looking to retire in the coming years, said the change would make a real difference.
"One and a half percent COLA increase in addition to our pension, it's going to help out tremendously. Now we all know everything's going up in price, food, gas, it's inflation overall. It affects everybody," Lyons said.
Lyons said one cost he did not expect to rise was insurance.
"I'm in my 24th year, so I'll start be looking at retiring here pretty soon. And when I called about it, just for myself, it was $1,300," Lyons said.
Former Wakulla County Sheriff David Harvey said the bill is a long-overdue step to support the men and women who risk their lives every day.
"Nobody got that, so I would say this is long overdue," Harvey said.
Harvey said the COLA's return will also benefit recruitment and retention within these professions.
"Even when you're recruiting and retaining, trying to retain deputies, this is something you can say, 'hey, your retirement package,' hopefully you get to retire. 'You've got a COLA, a built-in COLA.' Now, if you don't have that COLA, your pension, you're losing money every year because of inflation," Harvey said.
Harvey also emphasized the demands placed on these workers every day.
"They work 24/7 days a week, 24 hours a day. You've got a firefighter, a deputy sheriff, police officer on duty, 24/7. It's not eight to five, they're carrying a weapon, most of them, and they are risking their life literally every day," Harvey said.
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