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Members of seventy-six municipal (MERS) pension plans will receive a cost-of-living adjustment (COLA) in 2023.
View the document below for a full list of employers eligible for a COLA in 2023.
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MERS plans providing a COLA in 2023
Download to view a list of employers eligible for a COLA in 2023.
2023 MERS COLA Units.pdf
All members of these 76 plans who retired before June 30, 2012 and were previously receiving or eligible for a COLA will receive a COLA beginning the month following their retirement date.
General MERS members of these MERS plans who retired after June 30, 2012 will be eligible to receive a COLA three years after their retirement date or at their Social Security Normal Retirement Age, whichever is later.
Police and Fire MERS members of these plans who retired between July 1, 2012 and June 30, 2015 will be eligible to receive a COLA three years after their retirement date or when they reach age 55, whichever is later.
Police and Fire MERS members of these plans who retired after June 30, 2015 will be eligible to receive a COLA three years after their retirement date or when they reach age 50, whichever is later.
Current eligible beneficiaries of the Teachers’ Survivor Benefit receive the same COLA granted to members of Social Security. The increase, which begins in January 2023, is 8.7% as announced by the Social Security Administration in October 2022.
