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Retirement Board Approves Supplemental COLA Effective July 1, 2021

Published: September 8, 2021

At the meeting on September 8, 2021, the SFERS Retirement Board approved a Supplemental Cost of Living Adjustment (COLA) for qualified retirees or their entitled beneficiaries.

Effective July 1, 2021, in accordance with Charter Sections §A8.526-3 and §A8.526-4, qualified SFERS members who retired on or before July 1, 2021, including those retired members or their qualified survivors who retired prior to November 6, 1996, will receive a supplemental cost of living adjustment based on their June 30, 2021 gross SFERS retirement allowance. The COLA is payable on the check dated February 29, 2022.

Qualified miscellaneous and New Plan Safety retirees or their entitled beneficiaries will receive an adjustment in the amount of 1.5% based on the June 30, 2021 retirement allowance.  The adjustment for Old Plan Safety retirees or beneficiaries will depend on their July 1, 2021 Basic COLA amounts.