Cost of Living Adjustment (COLA)

Updated Feb. 15, 2011:

The Cost Of Living Adjustment (COLA) to be applied as of July 1, 2011 to retirement benefits for retirees whose 65th birthday falls in or before the current calendar year is 1.6%.

Please note that this current COLA only applies to members who retired in calendar year 2010 or earlier; members who retire in 2011 are ineligible. This current COLA also applies to disabled retirees who have been retired for at least three years, ie: members who began receiving a disability retirement benefit in calendar year 2007 or earlier.

General COLA Information

The first COLA to a retiree ’s benefit may be made on July 1 of the year in which the retired member reaches age 65, or on July 1 of the year following the member's retirement date, whichever is later. Thereafter, each July 1, a retiree’s annuity may be adjusted by either one-half the percent change in the Consumer Price Index (CPI) of the preceding calendar year or four percent, whichever is less. The annual adjustment shall be no less than two percent unless the CPI is less than two percent. In this case, the COLA will be the same as the percent change in the CPI.