Giving anyone who makes this much money a guaranteed annual COLA is beyond comprehension. And for those who make this kind of money, and accept the annual increase as deserving of their service, proves greed hath no moral bounds.
Many hard working tax paying citizens suffered devastating financial consequences during the 2008 crash. Some to the point of becoming destitute. And though the  PERS funds took a large negative loss due to greed fueled investment folly its leaders, their legislative and legal cronies, knew they could rely on the people's ignorance  to bail  them out. Who of them became destitude? Who of them lost their life savings? Who of them will not benefit from the future of PERS?  And now they want more via the flim flam "promises" of M97. 
Nay on M97. Nay to them who favor it. And nay to the power hungry manipulative Unions who instigate the propoganda in promoting this kind of blatant nonsense.