Cost of Living Adjustments
CTRB provides for annual cost of living adjustments (PDF 41KB) once you have retired and begun receiving benefits. You must be retired for a minimum of at least nine months in order to be eligible for your initial cost of living increase. These increases are paid in your benefit issued on the last business day of July or January depending on your retirement date.
For members who retired prior to September 1992, the cost of living adjustment is based on the National Consumer Price Index for the twelve month period ending on the last day of the preceding November, for COLA paid in January or the last day of the preceding May, for COLA paid in July.
For members who retired on or after September, 1992, the cost of living adjustment is based on the Social Security cost of living adjustment up to a maximum of 6% and the investment performance of the retirement fund for the preceding fiscal year. If the investment performance of the retirement fund is less than 8.5%, the cost of living adjustment will be capped at 1.5%.
Content Last Modified on 12/18/2012 3:31:02 PM