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Retirement Board Approves Basic COLA, Effective July 1, 2024

Published: March 22, 2024

At the February 14, 2024, meeting, the SFERS Retirement Board approved the Basic Cost of Living Adjustment (COLA) for qualified miscellaneous and New Plan Safety retirees or their entitled beneficiaries. Effective July 1, 2024, in accordance with Charter Section §A8.526, qualified SFERS members who retired on or before July 1, 2024, will receive a cost of living adjustment of 2% based on their June 30, 2024, gross SFERS retirement allowance.

The Basic COLA is payable on the check dated July 31, 2024. If you are eligible to receive the Basic COLA increase, you will notice an increase in the gross amount of your July 31, 2024, allowance compared to your June 30, 2024 allowance.