Who is Eligible for a COLA in 2025?
Members with retirement dates on or before June 30, 2012 are eligible for COLA.
Members of ninety-three municipal (MERS) pension plans will receive a cost-of-living adjustment (COLA) in 2025. For a full list, click here.
To be eligible for annual COLA, members who meet age and length of retirement requirements must also be retirees of a plan that offers COLA and has a funding level that exceeds 75%, as determined by the actuary as of the prior year’s Actuarial Valuation. The most current Actuarial Valuations for all plans (as of 6/30/2024) are available on the ERSRI website – for MERS plans, refer to Table 7, Column 8 in the 2024 valuation for your employer’s funded ratio.
For retirees of all COLA-eligible plans that are less than 75% funded, a 25% COLA (1/4th of the calculated COLA) is paid every year.
Eligible State Police and Judges will receive a ‘4-Year COLA’ in 2025.
In addition, current eligible beneficiaries of the Teachers’ Survivor Benefit receive the same COLA granted to members of Social Security. The increase, which begins in January 2025, is 2.5% as announced by the Social Security Administration in late 2024.
Click here to read more about 2025 COLA (including how it is calculated).
