TVARS announces 2021 information on COLA, Interest Crediting Rates, Contribution Limits
TVARS has announced the following 2021 information of interest to employees and retirees. Cost-of-living adjustment (COLA) for 2021 For 2021, 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…