Cost-of-Living Adjustment (COLA) for 2023 has been announced by NYCERS. Each year, NYCERS makes an annual Cost-of-Living Adjustment (COLA) to the retirement allowance of eligible retirees. Here are three things you should know about COLA:
- COLA is an annual adjustment to your retirement allowance based on the Consumer Price Index (CPI).
- If eligible, your 2023 COLA payment is 2.5% of your Annual Maximum Retirement Allowance (AMRA) or $18,000, whichever is less.
- See COLA Fact Sheet #707 (also attached below) for a list of eligible retirees who will receive COLA.
If you’re eligible to receive COLA, it will be reflected in your September 30, 2023 pension payment.
Contact NYCERS directly regarding your plan.
Call Center Hours
Monday-Friday, 8 am – 5 pm
(347) 643-3000 Within NYC
(877) 669-2377 Toll-Free
(347) 643-3501 TTY
