Cost of Living Adjustment For 2021 in Checks in July

 

 

For Retired Employees:

Each year the LACERS Board of Administration determines a Cost of Living Adjustment (COLA) for eligible LACERS Retired Members and beneficiaries. The COLA is a reflection of the Consumer Price Index (CPI) for the Los Angeles area, which has been determined to be
1.6 percent for 2021.

The maximum COLA is set by the City of Los Angeles Administrative Code at 3.0 percent for Tier 1 and Tier 1 Enhanced Members, and is set at 2.0 percent for Tier 3 Members. 

All Tier 1 and Tier 1 Enhanced Members who retired after June 30, 2020 will receive a COLA of 1/12th of the 1.6 percent for each full month of retirement completed by June 30, 2021. Similarly, all Tier 3 Members who retired after June 30, 2020, will receive a
COLA of 1/12th of the 1.6 percent for each full month completed by June 30, 2021.

The COLA will be included in all eligible Retired Members’ and Beneficiaries’ July 31, 2021, check or direct deposit. For more information on the LACERS COLA and to view a chart of what your COLA will be based on for your Membership Tier, potential COLA bank, and retirement date, please visit lacers.org/cost-living-adjustments-cola

 

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