Eligible retirees to receive cost-of-living adjustment (COLA) beginning with July 2016 payment
Retirees and beneficiaries of the Maryland State Retirement and Pension System will receive an increase in their retirement payment effective this July as the annual cost-of-living adjustment (COLA) takes effect.
For all eligible retirees who retired on or before July 1, 2015, the COLA increase will be 0.119%. Since this year’s COLA rate does not exceed the system limit or cap in place for retirees of the Pension System, all eligible retirees will receive the full COLA.
Members who retired after July 1, 2015 are not eligible for a COLA until they have been retired one full year as of July 1.
The COLA does not apply to most legislative and judicial retirees. Retirees from the legislative and judicial systems receive adjustments based on the increases received by active legislators and judges.