Plans 2 & 3 COLA Amounts Announced
The Washington State Department of Retirement Systems (DRS) has released the annual cost of living adjustment (COLA) amounts for retirees in Plans 2 & 3 of PERS, SERS, TRS, and PSERS. As costs of groceries and housing skyrocket, these COLAs will provide retirees with some much-needed relief from inflation, but not as much relief as you might expect.
Annual COLA amounts are determined by annual inflation measured by the Seattle Consumer Price Index (CPI). However, COLA increases are limited to 3% in a single year. Even though the Seattle CPI currently measures 8.81…
