Retirement Board Approves 2.5% COLA for Retirees and Surviving Spouses

At the September 9 Retirement Board meeting the Board approved a 2.5% cost of living adjustment (COLA) to the base pension for all members whose retirement or whose deceased spouse’s eligibility to a pension were effective on or before December 31, 2020. The simple COLA, calculated using the member’s base pension, will be effective with the October 29 benefit payment for Police plan members and the November 1 benefit payment for Civilian Employees’ plan members.