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Cost-of-Living Adjustment (COLA)
COLA Effective July 1, 2010: 0%
Cost-of-living adjustments (COLAs) allow your retirement benefit to keep pace with inflation and are based on the Consumer Price Index-Urban. During years when there is no inflation or deflation, the COLA will be 0 percent.
Your first COLA goes into effect on July 1 of the second calendar year after you retire and is effective each July 1 thereafter. The COLA appears in your August 1 benefit payment. Example: If you retire on September 1, 2011, your first COLA will be effective July 1, 2013.
Hired Before July 1, 2010?
During years when a COLA is provided, the amount matches the first 3 percent increase in the Consumer Price Index-Urban and half of the remaining increase, up to a maximum of 5 percent. If there is no inflation or deflation, the COLA will be 0 percent.
Hired On or After July 1, 2010?
During years when a COLA is provided, the amount matches the first 2 percent increase in the Consumer Price Index-Urban and half of the remaining increase, up to a maximum of 6 percent. If there is no inflation or deflation, the COLA will be 0 percent.
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