Timing of Monthly Benefit Payments
Pension payments are mailed on the second-to-last business day of each month and are payable on the last business day of the month. These payments cover the benefits earned for the month that is ending.
Check or direct deposit remittances are for a full month of benefits.
Your first pension payment will be sent at the end of the month that follows your retirement date. For example, if your retirement date is May 15, your first pension payment would be sent at the end of June.
To see a schedule of pension check mail dates, visit the ERS Calendar.
CPI COLA Factors (This only affects certain Police and Fire Retirees)
Every December, the ERS calculates the rate to be used to determine COLA factors granted to most protective service members based on the Consumer Price Index – All Urban Consumers (CPI-U).
The CPI COLA is calculated using the Consumer Price Index – All Urban Consumers data. The CPI statistics can be found on the U.S. Department of Labor Statistics website: http://data.bls.gov/cgi-bin/surveymost?cu Select the first index in the list presented on the website. Take the current year’s November index number and subtract the previous year's November index number. Divide this answer by the previous year's November index number.
COLA increases granted in calendar year 2021 to those protective service members whose COLA is determined by the CPI-U will be 3.0%.