Retirees with pre-2011 early retirement incentives would regain increases on existing teachers' pensions

The teachers' pension fund board would put automatic increases tied to living costs into effect. Only retired Teachers' Pension and Annuity Fund members who received early retirement incentives before January 1, 2011, would qualify. The pension benefit must have been granted before the law takes effect and still be in effect then. The board would consult the fund's actuary and the State Treasurer. The law would take effect immediately if enacted. Increases would apply only to payments made after that date, with no back pay.