Retiree COLA

Wednesday April 21st 2010

Eligible retirees (under the “new” 20-year plan) … those under this plan who have been retired for at least 12 months … will receive a 2.7% increase in retirement allowances effective July 1, 2010, reflected in the July pension check or direct deposit statement as appropriate.

Retirees under the “old” 20-year plan (those appointed prior to October, 1959) are not eligible under this distribution formula. They are eligible to receive 1/2 of what an active employee of the same rank would receive. There is no C.O.L.A. for active sworn employees in the FY-’11 operating budget.

/lrs

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