John Curry to Rich DeColibus and Tom Curtis re: COLA calculation
From John Curry, July 22, 2009
Subject: OPERS "COLA"
Subject: OPERS "COLA"
Rich and Tom...here's a quote from the OPERS retirees' handbook. Looks like their COLA is a simple one and not compounded. This was taken from page 16 of their retirees' handbook.
John
"Cost-of-Living Adjustment All benefit recipients who have received benefits for 12 months are entitled to an annual Cost-of-Living Adjustment (COLA), currently fixed at 3 percent. This rate is fixed regardless of the change in the Consumer Price Index (CPI). The COLA is calculated using your original monthly payment and is not compounded."
posted by Kathie Bracy at 2:39 PM
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