Retirement Board Approves Basic COLA, Effective July 1, 2020

Published: April 15, 2020

At the February 12, 2020 meeting, the SFERS Retirement Board approved the Basic Cost of Living Adjustment (COLA) for qualified miscellaneous retirees and New Plan Safety retirees or their entitled beneficiaries. Effective July 1, 2020, in accordance with Charter Section §A8.526, qualified SFERS members who retired on or before July 1, 2020, will receive a cost of living adjustment in the amount of 2% based on your June 30, 2020 gross SFERS retirement allowance. The Basic COLA is payable on the check dated July 31, 2020.  If you are eligible to receive the Basic COLA increase, you will notice an increase in the gross amount of your July 31, 2020 allowance when compared to the gross amount of your June 30, 2020 allowance.

 

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