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COLA increase for our pensions! Print E-mail
Written by NEARO   
Saturday, 16 December 2017 09:13

Good news! Effective 1/1/2018, each of our pension payments will increase by 1.6%!

There will be a note on each payment stub for everyone who receives a pension benefit that their 1/1/2018 benefit has been increased by 1.6%.

The COLA applies to every recurring retirement payment effective on 1/1/2018, regardless of when someone started receiving their pension.

NEARO played a role many years ago in advocating for the automatic COLA on our pensions.

Here's a description of the COLA from the Summary Plan Description:

"The Cost-of-Living Adjustment (COLA) is an annual increase that is applied to your basic NEA Plan monthly retirement pension each January 1. It is designed to help you keep up with inflation and the increased cost of living.

Each January’s COLA is based on 80% of the change in the U.S. Consumer Price Index for All Urban Consumers, CPI-U, from October to October of the previous year. There is a maximum annual increase of 3% applied to your pension. Effective January 1, 2000, the minimum annual increase is 11/2%.

COLA = CPI-U change from October to October x 80%, up to a maximum of 3% and not less than 11/2%"

Last Updated on Saturday, 16 December 2017 10:29
2018 NEARO Officers, Board of Directors, Ex Officio Print E-mail
Written by Editor   
Monday, 04 April 2016 00:00



Joel Packer, President *

Gloria Constant, Vice President *

Betty JeungBetty Jeung, Recording Secretary

Tomás Saucedo, Membership Secretary *

Martinez Steven Martinez, Treasurer

Board of Director members:

Carol Adams

Mona Ball *

Edith JeffersonEdith Jefferson

Pat OrrangePat Orrange

Rafael Rivera *

John Thurston *

Teresa Rankin, Immediate Past President

* term expires 12/31/2018, all others expire 12/31/2019

Lynn Coffin, Ex Officio - Outreach Editor

Last Updated on Friday, 15 December 2017 15:48
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