COLA Archives - San Mateo County Employees' Retirement Association

COLA Increase for 2024

Posted on January 23, 2024July 14, 2025 by planeteria

At its January 23, 2024 meeting, the Board of Retirement approved a cost-of-living adjustment (COLA) for retirees and beneficiaries in accordance with each plan as shown on the chart below:

Retiree or Beneficiary’s Plan Type	Date of Retirement	2024 COLA %	COLA BANK %
Plan 1 – General and Safety	On or before 4/1/2024	4.0%	0.5% decrease
Plan 1 – Probation	On or before 4/1/2024	3.0%	0.5% increase
Plan 2 – All Members	On or before 4/1/2024	3.0%	n/a
Plan 3	n/a	n/a	n/a
Plan 4, 5, 6, 7 – All Members	On or before 4/1/2024	2.0%	n/a

This COLA applies to eligible retirees and beneficiaries who retire on or before April 1, 2024, and the amount of the COLA will vary depending on the retirement plan.

The COLA for Plan 1 General and Safety members is 4.0%, which includes 3.5% based on the Consumer Price Index in addition to 0.5% from their COLA bank. These members will now have a zero COLA bank balance.

Plan 1 Probation members will receive a 3.0% COLA with a 0.5% COLA bank. The COLA for Plan 2 members is 3.0%, and the COLA for Plans 4, 5, 6 and 7 is 2.0%. Plan 3 does not provide a COLA.

All COLAs will be paid beginning with the April 30, 2024 benefit payment.

Current employees considering retirement: If you want to take advantage of this year’s COLA, you must retire on or before April 1, 2024. If you’re thinking about retirement, contact SamCERA as soon as possible so your paperwork can be processed in time for you to receive your first retirement benefit check on April 30.

COLA Increase for 2025

Posted on February 3, 2025July 14, 2025 by Natasha Jeong

At its January 28, 2025 meeting, the Board of Retirement approved a cost-of-living adjustment (COLA) for retirees and beneficiaries in accordance with each plan as shown on the chart below:

Retiree or Beneficiary’s Plan Type	Date of Retirement	2025 COLA %	COLA BANK %
Plan 1 – General and Safety	On or before 4/1/2025	3.0%	n/a
Plan 1 – Probation	On or before 4/1/2025	3.0%	n/a
Plan 2 – All Members	On or before 4/1/2025	3.0%	n/a
Plan 3	n/a	n/a	n/a
Plan 4, 5, 6, 7 – All Members	On or before 4/1/2025	2.0%	n/a

This COLA applies to eligible retirees and beneficiaries who retire on or before April 1, 2025, and the amount of the COLA will vary depending on the retirement plan.

The COLA for Plan 1 General, Safety, and Probation members is 3.0. The COLA for Plan 2 members is 3.0%, and the COLA for Plans 4, 5, 6 and 7 is 2.0%. Plan 3 members do not receive a cost-of-living increase.

All COLAs will be paid beginning with the April 30, 2025 benefit payment.

Current employees considering retirement: If you want to take advantage of this year’s COLA, you must retire on or before April 1, 2025. If you’re thinking about retirement, contact SamCERA as soon as possible so your paperwork can be processed in time for you to receive your first retirement benefit payment on April 30.

COLA Increase for 2023

Posted on January 24, 2023July 14, 2025 by planeteria

At its January 24, 2023 meeting, the Board of Retirement approved a cost-of-living adjustment (COLA) for retirees and beneficiaries in accordance with each plan as shown on the chart below:

Retiree or Beneficiary’s Plan Type	Date of Retirement	2023 COLA %	COLA BANK %
Plan 1 – General and Safety	On or before 4/1/2023	5.0%	0.5%
Plan 1 – Probation	On or before 4/1/2023	3.0%	2.5%
Plan 2 – All Members	On or before 4/1/2023	3.0%	n/a
Plan 3	n/a	n/a	n/a
Plan 4, 5, 6, 7 – All Members	On or before 4/1/2023	2.0%	n/a

This COLA applies to eligible retirees and beneficiaries who retire on or before April 1, 2023, and the amount of the COLA will vary depending on the retirement plan.

The COLA for Plan 1 General and Safety members is 5.0% with a 0.5% COLA bank. Plan 1 Probation members will receive a 3.0% COLA with a 2.5% COLA bank. The COLA for Plan 2 members is 3.0%, and the COLA for Plans 4, 5, 6 and 7 is 2.0%. Plan 3 does not provide a COLA.

All COLAs will be paid beginning with the April 28, 2023 benefit payment.

Current employees considering retirement: If you want to take advantage of this year’s COLA, you must retire on or before April 1, 2023. If you’re thinking about retirement, contact SamCERA as soon as possible so your paperwork can be processed in time for you to receive your first retirement benefit check on April 28.

COLA Increase for 2022

Posted on January 26, 2022July 14, 2025 by planeteria

At its January 25, 2022 meeting, the Board of Retirement approved a cost-of-living adjustment (COLA) for retirees and beneficiaries in accordance with each plan as shown on the chart below:

Retiree or Beneficiary’s Plan Type	Date of Retirement	2022 COLA %
Plan 1 & 2 – All Members	On or before 4/1/2022	3.0%
Plan 3	n/a	n/a
Plan 4, 5, 6, & 7 – All Members	On or before 4/1/2022	2.0%

The COLA applies to eligible retirees and beneficiaries retired on or before April 1, 2022, and the amount of the COLA may vary depending on the retirement plan.

The COLA for Plan 1 and Plan 2 members is 3.0%. The COLA for Plans 4, 5, 6 and 7 is 2.0%. Plan 3 does not provide a COLA.

All COLAs will be paid beginning with the April 29, 2022 benefit payment.

Current employees considering retirement: If you want to take advantage of this year’s COLA, you must retire on or before April 1. If you’re thinking about retirement, contact SamCERA as soon as possible so your paperwork can be processed in time for you to receive your first retirement benefit check on April 29.

COLA Increase for 2021

Posted on January 27, 2021July 14, 2025 by planeteria

At its January 26, 2021 meeting, the Board of Retirement approved a cost-of-living adjustment (COLA) for retirees and beneficiaries in accordance with each plan as shown on the chart below:

Retiree or Beneficiary’s Plan Type	Date of Retirement	2021 COLA %	COLA BANK %
Plan 1 – General and Safety	On or before 4/1/2021	1.5%	n/a
Plan 1 – Probation	On or before 4/1/2019 4/2/2019 – 4/1/2020 4/2/2020 – 4/1/2021	3.0% 2.0% 1.5%	1.5% decrease 0.5% decrease n/a
Plan 2 – All Members	On or before 4/1/2021	1.5%	n/a
Plan 3	n/a	n/a	n/a
Plan 4, 5, 6, 7 – All Members	On or before 4/1/2021	1.5%	n/a

This COLA applies to eligible retirees and beneficiaries who retired on or before April 1, 2021, and the amount of the COLA will depend on the retirement plan.

The COLA for General and Safety Plan 1 is 1.5%.

The COLA for Probation Plan 1 varies depending on the date of retirement. For those that retired on or before 4/1/2019, the COLA will be 3%. Those that retired between 4/2/2019 – 4/1/2020 will receive a 2% COLA. Those that retire(d) between 4/2/2020 – 4/1/2021 will receive a 1.5% COLA. Probation Plan 1 members receiving more than 1.5% are utilizing the remaining balance in their COLA Bank and now have a zero COLA Bank balance.

All Plan 2 members will receive 1.5%, and the COLA for Plans 4, 5, 6 and 7 is also 1.5%. Plan 3 does not provide a COLA.

All COLAs will be paid beginning with the April 30, 2021 benefit payment.

COLA Increase for 2020

Posted on January 28, 2020July 14, 2025 by planeteria

At its January 28, 2020 meeting, the Board of Retirement approved a cost-of-living adjustment (COLA) for retirees and beneficiaries in accordance with each plan as shown on the chart below:

Retiree or Beneficiary’s Plan Type	2020 COLA %	COLA BANK %
Plan 1 – General and Safety	3.5%	n/a
Plan 1 – Probation	3%	0.5%
Plan 2 – All Members	3%	n/a
Plan 3	n/a	n/a
Plan 4, 5, 6, 7 – All Members	2%	n/a

The COLA applies to eligible retirees and beneficiaries retired on or before April 1, 2020, and the amount of the COLA will depend on the retirement plan. The COLA for General and Safety Plan 1 is 3.5% and Probation Plan 1 is 3% with a 0.5% COLA bank. All Plan 2 members will receive 3.0%, while the COLA for Plans 4, 5, 6 and 7 is 2.0%. Plan 3 does not provide a COLA.

All COLAs will be paid beginning with the April 2020 benefit payment.

COLA Increase for 2019

Posted on January 29, 2019July 14, 2025 by planeteria

At its January 29, 2019 meeting, the Board of Retirement approved a cost-of-living adjustment (COLA) for retirees and beneficiaries in accordance with each plan as shown on the chart below:

Retiree or Beneficiary’s Plan Type	2019 COLA %	COLA BANK %
Plan 1 – General and Safety	4%	n/a
Plan 1 – Probation	3%	1%
Plan 2 – All Members	3%	n/a
Plan 3	n/a	n/a
Plan 4, 5, 6, 7 – All Members	2%	n/a

The COLA applies to eligible retirees and beneficiaries retired on or before April 1, 2019, and the amount of the COLA will depend on the retirement plan. The COLA for General and Safety Plan 1 is 4% and Probation Plan 1 is 3% with a 1% COLA bank. All Plan 2 members will receive 3.0%, while the COLA for Plans 4, 5, 6 and 7 is 2.0%. Plan 3 does not provide a COLA.

All COLAs will be paid beginning with the April 2019 benefit payments.

Current employees considering retirement: If you want to take advantage of this year’s COLA rate, you must retire on or before April 1. If you’re thinking about retirement, contact SamCERA as soon as possible so your paperwork can be processed in time for you to receive your first retirement benefit check on April 30.

SamCERA 2016 COLA

Posted on January 27, 2016July 14, 2025 by planeteria

Because of an inflation rise in 2015, most SamCERA retirees and beneficiaries will receive a cost of living adjustment (COLA) of either 2.0% or 2.5% this year.

The COLA applies to eligible retirees and beneficiaries retired on or before April 1, 2016, and the amount of the COLA will depend on the retirement plan. The COLA for Plan 1 and Plan 2 is 2.5%, while the COLA for Plans 4, 5, 6 and 7 is 2.0%. Plan 3 does not provide a COLA.

All COLAs will be paid beginning with the April 2016 benefit payments.

2016 SamCERA COLAs

Retirement Plan	COLA
Plan 1	2.5%
Plan 2	2.5%
Plan 3	None
Plan 4	2.0%
Plan 5	2.0%
Plan 6	2.0%
Plan 7	2.0%

Current COLA amounts apply to members and beneficiaries retired on or before April 1, 2016.

How COLA is Calculated

SamCERA’s COLAs are calculated according to California law, which requires them to be based on the change in the annual Consumer Price Index (CPI) for the San Francisco-Oakland-San Jose area (as determined by the Federal Bureau of Labor Statistics). The law also requires the amount to be rounded to the nearest one-half of one percent. This year, since the index increased 2.61%, the nearest one-half of one percent is 2.5%. The maximum allowable COLA for Plans 4, 5, 6 and 7 is always 2.0%. These COLA amounts are validated by SamCERA’s actuarial firm, Milliman, Inc.

Remember, annual COLAs can increase or decrease depending on whether the Bay Area experiences inflation or deflation, but your pension will never go below the basic benefit allowance you received when you retired.

COLA Increase for 2018

Posted on January 24, 2018July 14, 2025 by planeteria

At its January 23, 2018 meeting, the Board of Retirement approved the following cost-of-living adjustment (COLA) for retirees and beneficiaries in accordance with each plan as shown on the chart below:

Retiree or Beneficiary’s Plan Type	COLA %
Plan 1 General, Probation, and Safety	3%
Plan 2 All Members	3%
Plan 3	N/A
Plan 4, 5, 6, 7 General Members	2%

Please refer to the chart above to find your plan’s COLA. The COLA applies to eligible retirees and beneficiaries retired on or before April 1, 2018, and the amount of the COLA will depend on the retirement plan. All COLAs will be paid beginning with the April 2018 benefit payments.

Current employees and deferred members considering retirement: If you want to take advantage of this year’s COLA rate, you must retire on or before April 1. If you’re thinking about retirement, contact SamCERA as soon as possible so your paperwork can be processed in time for you to receive your first retirement benefit check on April 30.