The cost-of-living adjustment (COLA) for Sept. 2024 through Aug. 2025 benefit payments is 1.8%.
By law, eligible retirees who have an annual benefit of $18,000 or more will receive a monthly increase of $27 beginning with the Sept. 30 pension payment.
The permanent, automatic COLA, which is determined by New York state law, is designed to help offset the adverse effects of inflation on the fixed retirement benefits of the state’s public retirees.
The 1.8% COLA for 2024-25 is applied to the first $18,000 of the maximum retirement benefit, which translates to the $27 increase per month. Those receiving less than $18,000 will receive a smaller (prorated) monthly COLA increase.
This latest COLA brings the cumulative maximum monthly increase since COLA legislation was enacted in 2000 to $508.50.
Visit the Retirees/COLA page to learn if you are eligible to receive the COLA.
