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COLAs and 13th Checks

Senate Enrolled Act (SEA) 22 for PERF and PARF 13th Check and COLA

For PARF members that have a PERF retirement account and normally receive a PERF 13th Check or COLA will continue to receive a 13th check or COLA. The new law clarifies that this process will continue.

 

COLAs and 13th Checks

Effective July 1, 2019

PERF, TRF, and EG&C members will receive 13th checks no later than October 1, 2019, and October 1, 2020.

If a member’s creditable service is: The Amount Is:
At least 5 years, but less than 10 years* $150
At least 10 years, but less than 20 years $275
At least 20 years, but less than 30 years $375
At least 30 years $450

*only the case if a member is receiving disability retirement benefits

 

1977 Fund Members

Retired 1977 Fund members received a 1.6 percent cost-of-living adjustment (COLA) effective July 1, 2019. This includes all retired, disabled and surviving beneficiaries of members of the fund for benefits that began prior to January 1, 2019.

The COLA for the 1977 Fund is linked to the Consumer Price Index (CPI). This was approved by INPRS’s board.

 

Judges’ Retirement System COLA

Retired Judges’ Plan members received a 2.7% percent cost-of-living adjustment (COLA) effective July 1, 2019. This includes retired members of the fund.

The COLA benefit increase of 2.7% percent is based up the state-mandated increase to the salary for actively employed judges and magistrates in positions covered by the Judge’s Retirement system.

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