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Your Monthly Payment

COST OF LIVING ADJUSTMENTS

TRS retirees, and beneficiaries of deceased retirees,  who have been retired more than one year, will receive cost of living increases (COLA)  to their monthly payment each January 1st  and July 1st .  If you have been retired less than one year, special COLA rules apply, and are explained in your retirement package.

If the effective date of your retirement is from July 1 through December 1, you will be eligible for an adjustment on the subsequent July 1st. If the effective date of your retirement is from January 1 through June 1, you will be eligible for an adjustment on January 1 of the following calendar year. 

COLA adjustments are based on increases or decreases in the Consumer Price Index (CPI), and are compounded.  If the CPI increases or remains the same, the adjustment will be 1 ½ % each January and July.  However, if the CPI decreases a COLA will not be awarded. 

If you retire with less than 30 years of service credit and are under age 60, you will become eligible for cost-of-living adjustments after reaching age 60, or after you would have obtained 30 years of service credit, whichever occurs earlier.

When COLA adjustments occur, you will receive notification from TRS regarding the increase in your monthly payment.