Do colorado retirees get a cost of living raise in July 2020? Thanks!
Yes, eligible retirees will receive an annual increase of 1.25% in July 2020.
How do we know who is eligible for this increase? That is, what are the eligibility requirements?
PERA retirees are eligible for their first annual increase after their third year in retirement. They are eligible for increases every year thereafter. Annual increases always occur in July. (retirees who take a reduced benefit must also reach a certain age to be eligible)
PERA’s annual increase webpage has more details, if you’re interested: https://www.copera.org/retirees/annual-benefit-increases
I started state employment in 1983, retired in 2011, suspended my benefits in 2015, and resumed benefits last July. Am I eligible for AI this year?
I would suggest calling PERA customer service at (800) 759-7372 to get the best information. They are able to look up your personal account and give you a definitive answer.
These questions has been bothering me for some time!
1) With the stock market setting new high’s, WHY HAS OUR PERA FUNDS FALLING BEHIND?
2) The annual possible increasing are not keeping up with the true cost of living, why? Your reasoning [s not logical in light of such large increases in the stock market!
3)Makes me wonder if we are being cheated?
PLEASE REPLY TO firstname.lastname@example.org
Why is there no mention of when the 1042S forms will be accessible online?
Hi Diana. We did not mention this above as only a few dozen PERA retirees receive this form. The 1042-S forms will be mailed out mid-March. If you would like an electronic version made available to you, please contact customer service after March 16, and they will arrange to send it to you securely.
The Pera retirees are much more savvy about the stock market and in fact, run their own portfolios. The stock market is up and we went with no increase for 2 years. We now get an increase of 1.25. Social Security has had an increase the past 2 years and they will beat our increase this year. I will make sure I have the percentage increase for social security the past 3 years before posting it. But I am willing to bet it is over 4%.
PERA on the Issues provides information and insight on a variety of topics related to managing a portfolio of more than $45 billion and providing retirement security for over 500,000 of Colorado’s public employees.
- Colorado PERA
- Center for State and Local Government Excellence
- National Institute for Retirement Security
- Center for Retirement Research
- National Association of State Retirement Administrators
- National Council on Teacher Retirement
© Colorado PERA 2020 - Colorado PERA Privacy and Security Notice