All benefit recipients who receive their annual cost of living adjustment in July (not January) can expect the increase to be reflected in their July 31, 2009 benefit payment. Members who retired prior to September 1992 will receive an increase of 3%. Members who retired on or after September 1992 will receive an increase of 1.5%. For further information on this topic, you may refer to the
Cost of Living Adjustments Bulletin (PDF 39KB).
Members should consider whether their federal and state withholding taxes need to be adjusted in light of this increase in benefits. Members may change the amount of their withholding tax by submitting a Federal and CT Tax Withholding Change Form (PDF 26KB).
For those members who chose an extra annuity of your Supplemental and/or Voluntary Account monies at retirement, the cost of living adjustment does not apply to the annuity portion of your monthly benefit.
