Social Security has announced that they will be granting a cost of living increase of 8.7% for 2023. Based on the statutes governing Cost of Living Adjustments (COLA) for CTRB members, the Connecticut Teachers’ Retirement Board will be granting COLA as follows.
|
COLA Group
|
January 2023
COLA Increase
|
July 2023
COLA Increase
|
| Members retired prior to September 1992 |
5%
|
TBD
|
| Members retired on or after September 1, 1992 and joined the system prior to July 1, 2007 |
1.5%
|
1.5%
|
| Members retired on or after September 1, 1992 and joined the system on or after July 1, 2007 |
1%
|
1%
|
