From STRS: How COLAs are calculated at OPERS

Nick Treneff to Tom Curtis, July 22, 2009
Subject: In reply to your e-mail

Dear Mr. Curtis,

Our executive director, Mike Nehf, asked me to respond to your recent e-mail regarding how COLAs are calculated at OPERS. Currently, OPERS pays a fixed 3% COLA that is based on the original amount – in other words it is not compounded year over year.

To illustrate, if the COLA is paid on a base monthly benefit of $1,000, the payment would increase to $1,030 ($30 is 3% of $1,000). The next year, the benefit would increase to $1,060.

Thank you for your inquiry. If I can be of any other help, please feel welcome to contact me.

Nick Treneff
Account Services Manager
STRS Ohio
treneffn@strsoh.org
614-227-2825