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9/12/2025
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Rep. O’Brien to reintroduce bill that increases COLAs for retirees
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STATE HOUSE – Rep. William W. O’Brien plans to reintroduce legislation in January that would increase the amount of money retirees receive from their pensions after changes were made in 2011 to the state pension system.
"Our state retirees are financially hurting and so many are struggling to get by on a daily basis. The main cause of this stress and anxiety is due to parts of their pensions that were promised to them, and they paid into over their careers, but were taken away in the 2011 pension reform. While Wall Street hedge funds have made hundreds of millions of dollars on unnecessary fees for unsatisfactory investment results, these dedicated retirees have struggled to afford the medicines and housing they need and to put food on their tables. This is unacceptable and shameful. If the pension system is doing well, there is no reason why our retirees should not share those profits,” said Representative O’Brien (D-Dist. 54, North Providence).
The legislation (2025-H 5766) would restore a portion of cost-of-living-adjustments (COLAs) for the state’s retirees if the pension system achieves an annual investment return that exceeds 10 percent. The increase in payment would amount to three percent of the retiree’s original retirement allowance.
“Teachers, secretaries, laborers and countless other retirees have been robbed of what they were contractually entitled to receive after decades of public service. This bill will help put the money our retirees have rightfully earned back into their pockets where it belongs and I strongly support the efforts to make our retirees financially whole once again,” concluded Representative O’Brien.
For more information, contact:
Andrew Caruolo, Publicist
State House Room 20
Providence, RI 02903
(401)222-6124
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