Cost-of-Living Adjustments


Cost-of-living adjustments (COLAs) are based on increases or decreases in the Consumer Price Index (CPI) and are not automatically granted. If the current average CPI is equal to or greater than the average CPI at the time you retired, you will receive a 1.5% COLA. If the current average CPI is less than the average CPI at the time you retired, you will not receive a COLA.

COLAs are granted each January 1st and July 1st to eligible retirees. In addition to the CPI, your first COLA is based on your retirement date. If your date of retirement is between July 1st and December 1st, you may be eligible to receive your first COLA on the subsequent July 1st. For example, if you retire October 1st, the first date you may be eligible to receive a COLA is the following July 1st.

If your date of retirement is between January 1st and June 1st, you may be eligible to receive your first COLA on the subsequent January 1st. For example, if you retire March 1st, you may be eligible to receive your first COLA the following January 1st.

Beneficiaries of deceased retirees who receive a monthly benefit payment will continue to receive the COLAs that the retired member had been receiving, and will continue to receive COLAs each January and July if eligible, subject to the conditions outlined above.

If you retire on a service retirement with less than 30 years of creditable service and are under age 60, you may be eligible to receive your first COLA, subject to the conditions outlined above, after you attain age 60 or you would have obtained 30 years of creditable service, whichever occurs first.

When COLA adjustments occur, you will receive notification from TRS regarding the increase in your monthly payment.