The cost-of-living adjustment (COLA), 3.0%, will be applied to your retirement base benefit and any cumulative COLA totals effective July 1. Per County Code, the COLA is calculated based on the annual increase in the Consumer Price Index (CPI-U) from March of last year to March of this year. Specifically, the CPI used to calculate the COLA is for the Washington-Arlington-Alexandria area and is calculated by the Federal Bureau of Labor Statistics.
To summarize, all of you who have been retired for at least 1 year will see a 3.0% cost of living increase in your July retiree benefit payment. If you will have been retired for less than 1 year in July, your increase will be prorated.
Detailed information about the COLA can be found here.
