Three Things Your Should Know About COLA

Post

Each year, NYCERS makes an annual Cost-of-Living Adjustment (COLA) to the retirement allowance of eligible retirees. Here are three things your should know about COLA:

  • COLA is an annual adjustment to your retirement allowance based on the Consumer Price Index (CPI).
  • If eligible, your 2022 COLA payment is 3.0% of your Annual Maximum Retirement Allowance (AMRA) or $18,000, whichever is less.
  • See COLA Fact Sheet #707 for a list of eligible retirees who will receive COLA.

If you’re eligible to receive COLA, it will be reflected in your September 30, 2022 pension payment.

Have you registered for a MyNYCERS account?
MyNYCERS account holders can manage many aspects of retirement online – updating address and Federal tax withholding, accessing the latest correspondence from NYCERS, and submitting forms and documentation. Register for/log in to MyNYCERS