Post date: Nov 16, 2020 4:20:10 PM
Effective January 1, 2021, a Cost of Living Adjustment of 1.5% will be applied to all active Retirement in the Plan.
The yearly COLA is based off of 80% of the difference between the October 2019 and October 2020 CPI-U with a minimum of 1.5%, maximum 3%.
The actual percentage increase based on the above criteria was around 0.9% which means the floor of 1.5% kicks in.