Cost of Living Adjustment
The cost of living adjustment referred to as COLA will be reflected in the July check for all retirees who have been retired one full year as of July 1st. For retirees who retired under the Retirement System or retired on or before July 1, 2011, the COLA will be 1.622%. For Pension System retirees who retired on or after July 2011, this year’s COLA will be 1.622% on their benefit allowance based on service earned prior to July 1, 2011 and 1% on their benefit allowance based on service earned on or after July 1, 2011 since the Agency’s targeted rate of investment return for December 31, 2014 was not met.