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Retirees’ COLA

The retirees’ COLA (cost of living adjustment), is approved by the Board each year, and effective as of July 1st.  It is added to the July retirement benefit for all retirees with an effective retirement date of June 30th (or prior) of the prior year.  COLA is not guaranteed each year, and the amount of the COLA is limited to 3% of the first $17,000 of the retiree’s annual benefit – up to a maximum of $510 annually, or $42.50 monthly. Please click below to read further information.

The Board has approved a 3% COLA increase for July 1, 2017. The COLA base remains at $17,000.

Statewide COLA base as per PERAC Mar 2017
Statewide COLA base as per PERAC Jan 2016
 
COLA notice to units July 2017
Agenda item Feb 22 2017
COLA increase presentation report to CEOs March 2016
 
 

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