SCERS Board approves COLA effective April 1, 2012

COST-OF-LIVING INCREASE EFFECTIVE APRIL 1, 2012

At its meeting on February 16, 2012, the SCERS Retirement Board approved the annual cost-of-living adjustments (COLA) to be effective April 1, 2012 for eligible SCERS monthly annuitants. SCERS’ April 2012 benefit payments will reflect the approved increases as follows

Miscellaneous Tier 1 or Safety Tier 1       

  • Retirement date on or before 3/31/1980                
  • 4.0% COLA

Miscellaneous Tier 1 or Safety Tier 1       

  • Retirement date on or after 4/01/1980               
  • 2.5% COLA

Miscellaneous Tier 3 or Safety Tier 2       

  • All                                                                              
  • 2.0% COLA

Miscellaneous Tier 2                                   

  • All                                                                              
  • 0.0% COLA

The membership category applicable to you is indicated on your retirement system warrant.

For retirees who retired with service under more than one membership category, the COLA applicable to each category will apply to the portion of your monthly allowance applicable to that category.

For further information on how the COLA was determined, please click on the “Important Notices” link on the SCERS website – www.scers.org – or contact the SCERS office.

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