Retiree FAQs - Benefit Increases after Retirement

Important note: Information contained in these frequently-asked questions and answers is general in nature. In case of any conflict, the actual contract language between the employing municipality and PMRS along with PMRS law will prevail. Also, existing regulations, policies and procedures will apply in all cases.

 

Will I receive a cost-of-living increase?

If your individual plan provides a cost of living allowance (COLA), you will be eligible for a COLA increase. Less than 10% of PMRS plans provide a COLA provision and they are mainly police officer and firefighter plans. It is possible that your municipality may allocate excess interest to its retirees which will produce an increase in the monthly benefit. Click here to learn more about excess interest awards.