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Retired Members will see an increase in their April benefit payment due to this year's cost-of-living adjustment (COLA).

In February, the SDCERA Board of Retirement approved a 3% COLA for Tier I, Tier II and Tier A Members and a 2% COLA for Tier B and Tier C Members. Members with a retirement date on or before March 31, 2018 will receive the COLA increase effective with their April benefit payment. COLAs are based on increases in the Consumer Price Index (CPI) for all urban consumers in San Diego County.

SDCERA's Retired Benefits unit processes COLA payments. March 2018 has been their busiest and most efficient year ever. The unit received 220 retirement applications in March, more than three times our monthly average. Each of the 220 Members counted on SDCERA to deliver their retirement benefit to them in April, and all 220 of these Members received it.

Finally, IRS regulations require SDCERA to notify retired Members each year of their options for tax withholding, and this notice will be included with April's earnings statement.

Click here to read my most recent Report to SDCERA's Board.