Post-retirement increases are not guaranteed. However, your benefit may be increased periodically after retirement. If a one-time supplement or increase is provided, either there must be investment gains to pay for it, or there will have to be additional employer contributions to pay for it. Those are the two ways that money comes into the Retirement Systems: contributions and investment returns. 

It is up to the General Assembly to decide whether to supplement or increase benefits and whether to appropriate funds to support that goal. 

One-time supplements or increases are usually figured as a percentage increase in your monthly benefit, and, if applicable, the monthly benefit paid to your beneficiary after your death under Options 2, 3, 6-2, and 6-3.

This page was last modified on 09/10/2024