The board of trustees may grant a cost of living adjustment in June of 2021if and only if funds are available from interest earnings in excess of normal requirements, as determined by the actuary, and:
- the actuary for the system and the legislative auditor certify that our funded ratio is of 70% or more; and
- the legislature fails to enact legislation in the 2021Regular Legislative Session granting a cost-of-living adjustment.
Answers to FAQs about COLAs can be found here.