There is considerable debate about what PERS is going to do, might do, or absolutely will not do when the COLA comes due this July 1, 2015. Rest assured, my friends, that nothing is set yet. We know that PERS will pay 2% COLA to all retirees, but it is not yet known, and won’t be known for a few weeks whether the 2% will be on our current (unadjusted) benefit, or on a revised benefit that reflects the compounding effects of readjusting the current benefit for 2% COLAs in 2013 and 2014. One thing is almost certain. Whatever PERS does on July 1, it probably will not include any restitution for previously withheld COLA. That is a more complex proposition. I did learn today from knowledgeable sources within PERS that on May 29, 2015, the PERS Board will meet in their bimonthly setting, and PERS Staff will outline the plan for rectifying the COLA for all retirees. So, for now, take a chill pill, relax, and know that within a few weeks, we will all know the timetable for restoring the lost COLAs, and for receiving any back benefits with interest we are owed. I am willing to bet that everything will be resolved before the 2016 COLA comes due. I’m heartened by PERS’ quick response to the Court ruling, and its desire to move forward as quickly as feasible.
Please don't post your comments more than once. I moderate all comments and a delay between posting and appearing is part of the drill here. I get to all comments in due time. Please don't continually repost the same comment. Only one will be posted. Thank you.