For 2020, the COLA for eligible retirees and beneficiaries will be 1.13%.
The TVARS Rules and Regulations provide that eligible retirement benefits (pension and supplemental benefits) will receive a COLA based on an inflation measure, which is the Consumer Price Index – All Urban Consumers (CPI-U) – an index maintained by the U.S. Labor Department that measures the price changes in a broad group of various goods and services purchased by consumers. Under the TVARS Rules, the COLA is calculated as the percentage change in the average CPI-U for the period of November 2018 – October 2019 to the period November 2019– October 2020 (1.38%) minus 0.25%. Eligible retirees and beneficiaries will see the increase in checks beginning January 31, 2021.
