An Act to provide fair and affordable public retiree benefits

This bill gradually increases retirement benefits for public employees by adjusting the percentage of Social Security benefits they receive, starting at 65% (replacing a fixed $18,000 amount) and rising to 100% over multiple years. It also prevents future health premium increases from affecting retirees who retired before such changes take effect, and caps out-of-pocket health costs at $2,500 for individual coverage and $5,000 for family coverage for retirees over 65 not eligible for Medicare. The changes take effect between 2025 and 2043, with specific provisions phasing in over time. The bill directly affects retired public employees in the state, particularly regarding their pension calculations and health insurance costs.