SCERS Board To Approve COLA
The SCERS Board will adopt annual cost-of-living adjustments (COLA) for retirees and beneficiaries at the February 2020 Board meeting.
The COLA is applied to pension payments each April and is based on a formula using the Consumer Price Index (CPI). The COLA that a retiree receives is dependent upon tier and date of retirement. SCERS’ website features a “COLA Tracker” (scers.org/retiree-cola-tracker) to show COLA trends throughout the year. For the COLA effective April 1, 2020, the Tracker is projecting a 2% COLA for Miscellaneous Tiers 3, 4, and 5 and Safety Tiers 2, 3, and 4, and a 3.5% COLA for Miscellaneous Tier 1 and Safety Tier 1.