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2013 Cost-of-Living Adjustment (COLA) Increase

The 2013 cost-of-living adjustment (COLA) for PERS retirees and beneficiaries receiving a monthly benefit is effective July 1, 2013, and payable with the August 1, 2013 benefit payment.

Tier One and Tier Two members who retired on or before July 1, 2013, will receive a 2 percent COLA.

OPSRP Pension Program retirees and beneficiaries who retired on or before August 1, 2012, will receive a 2 percent COLA.

For OPSRP Pension Program retirees and beneficiaries who retired after August 1, 2012, the COLA is pro-rated based on the number of months the benefit was received between August 1, 2012 and July 1, 2013.

COLAs reflect the annual Consumer Price Index (CPI) for the Portland-Salem area and are capped at 2 percent.

The U.S. Department of Labor’s Bureau of Labor Statistics publishes the Consumer Price Index.

Legislation has been introduced that could cap COLA payments.

View the CPI and “bank” carryover table