Three Things Your Should Know About COLA
Each year, NYCERS makes an annual Cost-of-Living Adjustment (COLA) to the retirement allowance of eligible retirees. Here are three things you 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