As you have most likely noticed, inflation has been high for the past year or so. In March, the month that is the basis for your cost-of-living adjustment (COLA), growth in prices slowed down some. While the overall nationwide Consumer Price Index (CPI-U) was up 5.0% from March of 2022 to March of 2023, the CPI-U for the Washington-Arlington-Alexandria area that includes Fairfax increased by 3.7% for the same period. It is this local index that, by County Code, we must use to calculate your cost of living increase.
To summarize, all of you who have been retired for at least 1 year will see a 3.7% cost of living increase in your July retiree benefit direct deposit or check. If you will have been retired for less than 1 year in July, your increase will be prorated.
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