As many retirees know, a section of PL 2011, Ch.78 suspended the cost-of-living adjustment (COLA) for retirees going forward.  The legislation states that the COLA for each of the state pension systems will remain suspended until the funds reach a “targeted funded ratio” directly connected to the plan’s funded status, or the ratio of assets to liabilities.  The funded status of each pension fund is calculated separately and is reported in the fund’s actuarial report.

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