As Prices Soar, Cost-of-Living Increases for Pensions in Many States are Not Keeping Up

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Nov 19, 2021, 3:52:06 PM11/19/21

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November 19, 2021

As Prices Soar, Cost-of-Living Increases for Pensions in Many States are Not Keeping Up

By Gretchen Morgenson
NBC News

Like many Americans, Jan Stewart is facing a new problem this fall: how to live on an income that stays the same while her cost of living skyrockets.

A retired elementary school teacher in Toledo, Ohio, Stewart receives a monthly check from the pension she paid into for 31 years. But the size of her checks, and those of 157,000 former Ohio teachers like her, does not rise even when basic costs of living do. Public pension recipients across the nation are in the same boat.