3% For State & Teacher Retirees
Thanks to State Treasurer Deb Goldberg, as well as the State Employees and Teachers Retirement Boards, the July pension checks of over 127,000 State and Teacher retirees will contain the 3% COLA.
Annual COLA approval for both State and Teacher retirees is handled through the State Budget. Despite being approved in all three versions of the FY19 State Budget (Governor, House, and Senate), this year’s 3% COLA payment was stuck in limbo as budget negotiations extended into mid-July.