Cost-of-Living Adjustments

What are COLAs?

Enjoying Retirement

A standard, statutory 1.5 percent cost-of-living adjustment (COLA) is provided annually on July 1 to retirees who have been retired for at least one full year prior to July 1. For members who were retired for less than a full year, the COLA is prorated to how much of the prior fiscal year you were retired. For example, if you retire on Jan. 1, you would receive only one-half of the COLA (0.75 percent) that would become effective on the following July 1.