Bill to increase COLA expected to clear final reading
The Fono is expected to pass in final reading tomorrow a bill seeking a 2% increase in the cost of living allowance or COLA for retirees.
Both the House and Senate approved their versions of the measure today with the majority of senators and House Representatives agreeing that hearings on the bill are not needed as a similar bill was introduced last year but did not get anywhere. Lawmakers also cited that the 2% COLA increase
would greatly assist retirees in the territory.
In the House today, only Representative Toeaina Faufano Autele requested that a hearing on the COLA hike bill be called, but 14 House members went ahead and passed the bill in second reading.
The 2% COLA adjustment will be for members of the Fund who retired on or prior to September 30, 2010.