Post-Retirement Benefit Adjustment History
ERS
FY21 |
No COLAs granted |
FY20 |
Two 3% one-time, non-compounded payments for retirees and beneficiaries, payable on the first $30,000 of annual pension benefit |
FY19 |
Two 2% one-time, non-compounded payments for retirees and beneficiaries, payable on the first $30,000 of annual pension benefit |
FY18 |
3% one-time, non-compounded payment for retirees and beneficiaries, payable on the first $30,000 of annual pension benefit |
FY17 |
3% one-time, non-compounded payment for retirees and beneficiaries, payable on the first $30,000 of annual pension benefit |
FY16 |
No COLAs granted |
FY15 |
No COLAs granted |
FY14 |
No COLAs granted |
FY13 |
No COLAs granted |
FY12 |
No COLAs granted |
FY11 |
No COLAs granted |
FY10 |
A bonus of 1.5% of their annual benefit payable October 2009 – this was a one-time check not compounded on the monthly benefit |
FY09 |
A total of 2% was granted (1% payable July 2008 and 1% January 2009) |
FY08 |
A total of 2% was granted (1.5% payable July 2007 and .5% January 2008) |
FY07 |
A total of 3% was granted (1.5% payable July 2006 and 1.5% January 2007) |
LRS
FY21 | No COLAs granted |
FY20 | Two 3% one-time, non-compounded payments for retirees and beneficiaries, payable on the first $30,000 of annual pension benefit |
FY19 | Two 2% one-time, non-compounded payments for retirees and beneficiaries, payable on the first $30,000 of annual pension benefit |
FY18 | A 3% one-time, non-compounded payment for retirees and beneficiaries |
FY17 | A 3% one-time, non-compounded payment for retirees and beneficiaries |
FY16 | No COLAs granted |
FY15 | No COLAs granted |
FY14 | No COLAs granted |
FY13 | No COLAs granted |
FY12 | No COLAs granted |
FY11 | No COLAs granted |
FY10 | A total of 3% was granted (1.5% payable July 2009 and 1.5% January 2010) |
FY09 | A total of 3% was granted (1.5% payable July 2009 and 1.5% January 2009) |
FY08 | A total of 3% was granted (1.5% payable July 2009 and 1.5% January 2008) |
FY07 | A total of 3% was granted (1.5% payable July 2009 and 1.5% January 2007) |
PSERS
FY21 | No COLAs granted |
FY20 | A 3% COLA for retirees and beneficiaries; the COLA will be paid as two 1.5% increases to those who receive a monthly benefit as of July 1, 2019, and January 1, 2020, respectively |
FY19 | A 2% monthly COLA for retirees and beneficiaries, effective July 2018 |
FY18 | A 2% monthly COLA for retirees and beneficiaries, effective July 2017 |
FY17 | A 2% monthly COLA for retirees and beneficiaries, effective July 2016 |
FY16 | No COLAs granted |
FY15 | No COLAs granted |
FY14 | No COLAs granted |
FY13 | No COLAs granted |
FY12 | No COLAs granted |
FY11 | No COLAs granted |
FY10 | A total of 3% was granted (1.5% payable July 2009 and 1.5% January 2010) |
FY09 | A total of 3% was granted (1.5% payable July 2009 and 1.5% January 2009) |
FY08 | A total of 3% was granted (1.5% payable July 2009 and 1.5% January 2008) |
FY07 | A total of 3% was granted (1.5% payable July 2009 and 1.5% January 2007) |
JRS
FY21 | No COLAs granted |
FY20 | Two 3% one-time, non-compounded payments for retirees and beneficiaries, payable on the first $30,000 of annual pension benefit |
FY19 | Two 2% one-time, non-compounded payments for retirees and beneficiaries, payable on the first $30,000 of annual pension benefit |
FY18 | A 2% monthly COLA for retirees and beneficiaries, effective July 2017 |
FY17 | A 2% monthly COLA for retirees and beneficiaries, effective July 2016 |
FY16 | TBD |
FY15 |
No COLAs granted |
FY14 |
No COLAs granted |
FY13 |
No COLAs granted |
FY12 |
No COLAs granted |
FY11 |
No COLAs granted |
FY10 | A bonus of 1.5% of their annual benefit payable October 2009 – this was a one-time check not compounded on the monthly benefit |
FY09 |
FY09 – A total of 1.5% was granted effective July 1, 2008 for the fiscal year |
FY08 | A total of 3% was granted (1.5% payable July 2007 and 1.5% January 2008) |
FY07 | A total of 3% was granted (1.5% payable July 2007 and 1.5% January 2007) |
COLA Study Committee Guidelines
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