On February 1, 2023, the Board of Retirement approved the maximum cost-of-living increase for all plans. Percentages exceeding the December 2021–2022 Consumer Price Index increase of 4.9 percent have been added to the COLA Accumulation chart, as reflected below.
| Retirement Dates | Maximum Cost-of-Living Increase |
CPI Change | Accumulation as of April 2022 |
April 2023 Adjustment |
Accumulation as of April 2023 |
|---|---|---|---|---|---|
| Prior to 4/1/81 | 3.0% | 4.9% | 8.9% | 1.9% | 10.8% |
| 4/1/81 – 3/31/22 | 3.0% | 4.9% | 3.6% | 1.9% | 5.5% |
| 4/1/22 – 3/31/23 | 3.0% | 4.9% | 0.0% | 1.9% | 1.9% |
| Retirement Dates | Maximum Cost-of-Living Increase |
CPI Change | Accumulation as of April 2022 |
April 2023 Adjustment |
Accumulation as of April 2023 |
|---|---|---|---|---|---|
| 4/1/77 – 3/31/90 | 2.0% | 4.9% | 23.1% | 2.9% | 22.9%* |
| 4/1/90 – 3/31/91 | 2.0% | 4.9% | 20.5% | 2.9% | 22.9%** |
| 4/1/91 – 3/31/92 | 2.0% | 4.9% | 15.9% | 2.9% | 18.8% |
| 4/1/92 – 3/31/00 | 2.0% | 4.9% | 15.3% | 2.9% | 18.2% |
| 4/1/00 – 3/31/01 | 2.0% | 4.9% | 15.0% | 2.9% | 17.9% |
| 4/1/01 – 3/31/02 | 2.0% | 4.9% | 13.3% | 2.9% | 16.2% |
| 4/1/02 – 3/31/03 | 2.0% | 4.9% | 13.2% | 2.9% | 16.1% |
| 4/1/03 – 3/31/05 | 2.0% | 4.9% | 11.5% | 2.9% | 14.4% |
| 4/1/05 – 3/31/06 | 2.0% | 4.9% | 9.1% | 2.9% | 12.0% |
| 4/1/06 – 3/31/18 | 2.0% | 4.9% | 7.9% | 2.9% | 10.8% |
| 4/1/18 – 3/31/19 | 2.0% | 4.9% | 6.3% | 2.9% | 9.2% |
| 4/1/19 – 3/31/20 | 2.0% | 4.9% | 5.1% | 2.9% | 8.0% |
| 4/1/20 – 3/31/22 | 2.0% | 4.9% | 4.6% | 2.9% | 7.5% |
| 4/1/22 – 3/31/23 | 2.0% | 4.9% | 0.0% | 2.9% | 2.9% |
| Retirement Dates | Maximum Cost-of-Living Increase |
CPI Change | Accumulation as of April 2022 |
April 2023 Adjustment |
Accumulation as of April 2023 |
|---|---|---|---|---|---|
| 4/1/02 - 3/31/03 | 2.0% | 4.9% | 13.2% | 2.9% | 16.1% |
| 4/1/03 – 3/31/05 | 2.0% | 4.9% | 11.5% | 2.9% | 14.4% |
| 4/1/05 – 3/31/06 | 2.0% | 4.9% | 9.1% | 2.9% | 12.0% |
| 4/1/06 – 3/31/18 | 2.0% | 4.9% | 7.9% | 2.9% | 10.8% |
| 4/1/18 – 3/31/19 | 2.0% | 4.9% | 6.3% | 2.9% | 9.2% |
| 4/1/19 – 3/31/20 | 2.0% | 4.9% | 5.1% | 2.9% | 8.0% |
| 4/1/20 – 3/31/22 | 2.0% | 4.9% | 4.6% | 2.9% | 7.5% |
| 4/1/22 – 3/31/23 | 2.0% | 4.9% | 0.0% | 2.9% | 2.9% |
| Retirement Dates | Maximum Cost-of-Living Increase |
CPI Change | Accumulation as of April 2022 |
April 2023 Adjustment |
Accumulation as of April 2023 |
|---|---|---|---|---|---|
| 1/1/13 - 3/31/18 | 2.0% | 4.9% | 7.9% | 2.9% | 10.8% |
| 4/1/18 – 3/31/19 | 2.0% | 4.9% | 6.3% | 2.9% | 9.2% |
| 4/1/19 – 3/31/20 | 2.0% | 4.9% | 5.1% | 2.9% | 8.0% |
| 4/1/20 – 3/31/22 | 2.0% | 4.9% | 4.6% | 2.9% | 7.5% |
| 4/1/22 – 3/31/23 | 2.0% | 4.9% | 0.0% | 2.9% | 2.9% |
Retirement date also applies to retiree’s survivor or beneficiary(ies) and/or alternate payee.
*Amount reflects -3.1 percent STAR benefit adjustment in 2023.
**Amount reflects -.5 percent STAR benefit adjustment in 2023.
***Plan E COLA increases apply only to service credit earned on and after June 4, 2002, and any purchased Plan E Elective COLA. Plan E members who retired after June 4, 2002, will receive up to a 2.0 percent COLA increase. The portion of the 2.0 percent COLA is based upon a ratio of the months of service earned on and after June 4, 2002, plus any purchased Plan E Elective COLA, divided by the total months of service.