During the Annual Board meetings on April 18, 2019, the Boards of Trustees for the Public School Employees Retirement System (PSERS) considered whether to grant post-retirement benefit adjustments to retirees and beneficiaries in fiscal year 2020.  Action taken by the PSERS Board for January 2020 are as follows:

Public School Employees Retirement System (PSERS)

Approved: A 1.5% cost of living adjustment (COLA) for retirees and beneficiaries.  The COLA will be paid as a 1.5% increase on the January 31, 2020 monthly benefit with the following stipulations:

• Must have a retirement date on or before 6/1/2019 for the January 2020 COLA, and
• non-disability retirees must be at least 45 years of age or older
• disability retirees have no age restrictions