When will the next COLA be granted?

The board of trustees may grant a cost of living adjustment in June of 2021 if and only if funds are available from interest earnings in excess of normal requirements, as determined by the actuary, and:

  1. the actuary for the system and the legislative auditor certify that our funded ratio is of 70% or more; and
  2. the legislature fails to enact legislation in the 2021 Regular Legislative Session granting a cost-of-living adjustment.

Answers to FAQs about COLAs can be found here.

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