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Retiring on or before July 1, 2010?
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Members retiring on or before July 1, 2010 are eligible for the annual cost-of-living adjustment (COLA) payable beginning with the August 1, 2010 benefit payment.
Tier One and Tier Two members with retirement dates between August 1, 2009 and July 1, 2010, will receive a 0.12 percent COLA beginning with the August 1, 2010 benefit payment.
For OPSRP Pension Program retirees and beneficiaries who retired on or after August 1, 2009, this annual COLA is pro-rated based on the number of months the benefit was received before July 1, 2010.
COLAs reflect the annual Consumer Price Index for the Portland-Salem area and are lower during economic downturns. The U.S. Department of Labor’s Bureau of Labor Statistics publishes the Consumer Price Index.
Annual COLAs for PERS members are capped at 2 percent.
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