Creating the Kansas public employees retirement system cost-of-living adjustment commission, prescribing powers and duties of the commission and establishing procedures of the legislature relating to the annual cost-of-living adjustment rate recommended by the commission.

HB 2500 creates a 13-member commission to determine annual cost-of-living adjustments (COLAs) for Kansas public employees' retirement benefits. The commission, appointed by legislative leaders and retirement system representatives, must study retirement benefits - including holding public hearings - and recommend a COLA rate for a four-year period. This recommendation must be submitted to the legislature by December 1, 2026, for the 2028-2031 period. If the legislature fails to enact the recommended rate within 30 days of the next session, the previous rate remains in effect. The bill directly affects all current and future retirees covered by Kansas public retirement systems, including state employees, police, firefighters, judges, and school staff.