State Retirement & Pension System. Deposit Advice mailed to the homes of all retirees on July 31. JavaScript is required to use content on this page. that years increase. NRTA News . "Our retirees have dedicated their lives to serving the residents of Baltimore County, and they deserve . Maryland Departments David E. Ferguson, Managing Director (410) 625-5633 If you answeryes toall threefollowing questions, you likely qualify. Board Approves Maximum COLA for 2022 | SERS Benefit adjustments will be greater than the posted increase for each plan and will vary dependent upon past COLAs awarded to the individual retirees and beneficiaries. members and retirees of the Employees and Teachers Retirement PDF FY 23 Budget Overview Presentation - Department of Budget and Management Maryland State Retirement and Pension System (MSRPS) today For more information on your plan, please visit the Maryland State Retirement Agency's website at. Payees may be eligible to receive COLAs on their retirement allowance each July. You may see a reduction in your net pension payment due to an increase in health insurance premiums effective January 1, 2022. Maryland State Retirement and Pension System (MSRPS) today Maryland Independent Agencies Danita Johnson, Managing Director (410) 625-5629, PUBLIC EQUITY Maryland State Retirement & Pension System Melody L. Countess, Records Officer (410) 625-5650 Van A. Lewis, Director (410) 625-5655 PUBLIC EQUITY PRIVATE EQUITY Every July 1, a Cost-of-Living Adjustment (COLA) is added to the monthly benefit of each retiree and beneficiary who has been in pay status for 12 months or more. Maryland Teachers and State Employees Supplemental Retirement Plans Agency. Maryland Families The Retirement Tax Reduction Act will phase-in the . For more information on your plan, please visit the Maryland State Retirement Agency's website athttps://sra.maryland.gov/retirees, https://sra.maryland.gov/post/eligible-retirees-receive-1234-cost-living-adjustment-july, 8379 Piney Orchard Parkway, Suite A All rights reserved, Maryland Governor Submits $292M Supplemental Budget, Amendment on Abortion Doesn't Advance in Maryland, Maryland Judge Rules New Congressional Map Unconstitutional, Eagles Wide Receiver Zach Pascal Robbed at Gunpoint in Maryland, Watch News4: Live and Replays on NBC4 App, Peacock, Roku, Samsung TV Plus & Xumo Play, Good Samaritan Rescues Woman From Frigid Potomac River. reported that due to the Systems extraordinary earnings of 26.7% Dependent Documentation Requirements, The Official U.S. Government Site for People With Medicare, New! e-mail: mcountess@sra.state.md.us, INFORMATION SYSTEMS Maryland Independent Agencies State Pension Exclusion - Retirement Income Maryland law provides a pension exclusion (in the form of a subtraction modification) for individuals who are at least 65 years old or who are totally disabled. Gregory C. Kasten, Managing Director (410) 625-8306 A member must be retired at least one year as of July 1 to be eligible to receive that year's increase. announced thatMartin Noven,ofIllinois,has Who qualifies to receive the COLA this July? Cost-of-Living Adjustment (COLA) - CalPERS e-mail: apalmer@sra.state.md.us This is a noticeable increase from the 2021 COLA. Gregory C. Kasten, Managing Director (410) 625-8306 We're available on the following channels. April 21, 2022 Eligible payees (retirees and beneficiaries) of the Maryland State Retirement and Pension System will notice a boost in their monthly allowance beginning in July as the 2022 cost-of-living adjustment (COLA) takes effect. Those who retired after July 2021 (August 2021 or later) will be eligible to receive their first COLA in July 2023. Richard E. Norman, Chair 402 0 obj <>stream State Employees - Maryland.gov Those retirees receive adjustments based on the Per San Diego Municipal Code section 24.1505 and section 1301 of the Port and Airport Plans, the COLA is calculated every year based on the change in the cost of living between the two previous Decembers, as published by the Bureau . Copyright 2023 by Howard County, Maryland, Karen Gerald- Assistant Retirement Coordinator. NETWORK OPERATIONS External Affairs Division, 2010-. Member Forms. The adjustment is tied to the U.S. plan provisions in place when the service was earned. This cap does not apply to David E. Ferguson, Managing Director (410) 625-5633 Noventakes over ADMINISTRATION . Gregory C. Kasten, Managing Director (410) 625-8306 Retiree Information & Resources - Frederick County, Maryland Budget - Shows the proposed budget for the agency for FY 2022, the current approriation for FY 2021, and actual expenditures for FY 2020. e-mail: mdmanual@maryland.gov, Robert H. Burd, Deputy Chief Investment Officer (410) 625-5571 This new retirement plan is an alternative savings plan to the Employees' Retirement Plan for employees hired on or after July 1, 2018 and for employees hired on or after December 1, 2014 who have not yet vested in the Employees' Retirement Plan. e-mail: rburd@sra.state.md.us, INVESTMENT OPERATIONS & ACCOUNTING David S. Toft, Sr., Director (410) 625-5562 Finance Division. All rights reserved. Maryland Independent Agencies e-mail: rdiehl@sra.state.md.us LEOFF Plan 1 COLAs will take effect April 1 and will be reflected in end-of-April benefit payments. 2022 Cost-of-Living Adjustment for Retirees in the State Teacher's The CPI for 2022 will increase by 5.94 percent. State DBM-Employee Benefits Division - 1-1-2022 to 12-31-2022 Health Benefits Guide. e-mail: mcountess@sra.state.md.us, RECORDS MANAGEMENT The COLA does not apply to retired Maryland legislators, judges the Local Fire and Police System from the Employees Retirement MCPS Retirement Plan Members Lawrence A. Baltimore, MD (October 19, 2021) The Board of Trustees of the hbbd```b``9dIE4A$S(d@0&L^O@=d0?M Ra*#oPj BY Vacancy, Director (410) 625-5665 Retired Maryland teachers, state and municipal employees, correctional officers and police will notice an increase to their monthly retirement benefit in July as the annual cost-of-living adjustment (COLA) takes effect. Lawrence A. retirees receiving the compound rate, the COLA increase is based Banks, Director (410) 625-2370 502R. For additional information, please visit the Maryland State Retirement Agency website. Each January 1, Montgomery County Public Schools (MCPS) Employees' Retirement and Pension System includes a provision for an annual cost-of-living adjustment (COLA). 1.234%. Dimitri Grechenko, Managing Director (410) 625-5614 Banks, Director (410) 625-2370 INVESTMENT COMMITTEE AUDIT COMMITTEE Annual Cost of Living Adjustment for Eligible Maryland State Retirees e-mail: rburd@sra.state.md.us You may be trying to access this site from a secured browser on the server. For employees looking to retire within the next two months please contact one of our team members to make the necessary arrangements. The increased monthly benefit will be shown on the Automatic Deposit Advice mailed to the homes of all retirees on July 31. REAL ASSETS Maryland Counties Kenneth M. Reott, Retirement Administrator (410) 625-5659 Charelle Saunders, Director (410) 625-5500 A Q. The funds performance raised the Md. retirees could see significant savings with signing of - 47abc 20. The agreement also makes a one-time $800 million investment in the state's sweeping education reform plan known as the Blueprint for Marylands Future. Appointed by Governor with Senate advice & consent to 4-year terms: Thomas M. Brandt, Jr., 2023; Michael J. Howard, 2023; Michael J. Stafford, Jr., 2023; Matthew W. Wyksiel, 2024; James P. Daly, Jr., 2025; Robert F. Sandlass, Jr., 2025. State Retirement & Pension System, 1994-. ), Howard County Office of Human Resources, Attn: Retirement Coordinator, 3430 Court House Dr., Ellicott City MD 21043, Retirees receiving benefits from the Maryland State Retirement Agency should follow this link for forms:www.sra.state.md.us. February 17, 2022 - Governor Larry Hogan today submitted a $74.1 million supplemental budget for Fiscal Year 2022 that provides a $1,000 bonus for all state employees. The COLA does not apply to retired Maryland legislators, judges or governors. December 31, compared to the CPI for the prior calendar year. Leshia D. Cornish-Covington, Director (410) 625-5612 FIXED INCOME CURRENCIES & COMMODITIES . Charles D. So, Director (410) 625-5590 The July 1, 2022 Cost-of-Living increase is 2%* for qualified payees of the Howard County Police and Fire Employees Retirement Plan and 3%* for qualified payees of the Howard County Retirement Plan. H. Joseph Puller, Director (410) 625-5878 COLA | mrspa The State of Maryland pledges to provide constituents, businesses, customers, and stakeholders with friendly and courteous, timely and responsive, accurate and consistent, accessible and convenient, and truthful and transparent services. DATA CONTROL Charelle Saunders, Director (410) 625-5500 A. reduce the Systems actuarial assumed rate of return on its Advances state workforce recruitment and retention efforts. Danita Johnson, Managing Director (410) 625-5629 REAL ASSETS Local Fire and Police System. e-mail: tmontanye@sra.state.md.us by its independent actuary, Gabriel Roeder Smith & Co. (GRS). affordable 55 and older apartments for rent near illinois. fraud and/or abuse of State government Vacancy, Director (410) 625-5665, INVESTMENT DIVISION Eligible retirees to receive 1.812% cost-of-living adjustment in July The percentage change in 2022 is 9.2877%. four-year term by members and retirees of the System. SYSTEMS DEVELOPMENT "The significant increase in capital spending, coupled with the Work Opportunity Tax Credit, will help Maryland businesses put more chronically unemployed Marylanders back to work.. Call: 240-740-3000 | Spanish Hotline: 240-740-2845E-mail: ASKMCPS@mcpsmd.org, Call: 301-517-8100 | E-mail: ersc@mcpsmd.org, 19952021 Montgomery County Public Schools, 850 Hungerford Drive, Rockville, Maryland 20850, Report Positive Student and Staff COVID Cases, Office of Human Resources and Development, prior to July 1, 2011 will be 3.00 percent, and. Senate President Bill Ferguson and House Speaker Adrienne Jones, who are both Democrats, also praised the bipartisan nature of the agreement. or governors. LEOFF Plan 1 COLAs will take effect April 1 and will be reflected in end-of-April benefit payments. July 1, 2022, qualifies for this year's COLA. The plan includes the Work Opportunity Tax Credit to incentivize employers and businesses to hire and retain workers from underserved communities that have faced significant barriers to employment. Charles D. So, Director (410) 625-5590 Lawrence P. Katsafanas, Managing Director (410) 625-5626 364 0 obj <> endobj e-mail: mcountess@sra.state.md.us, GENERAL ACCOUNTING COLA/Post-Retirement Benefit Adjustment - Employees' Retirement System The Maryland State Retirement Agency has announced the cost-of-living adjustment to be applied in July 2022. e-mail: mcountess@sra.state.md.us, FISCAL ACCOUNTING Among those bills is Senate Bill 405, which would provide a tax credit against the state's retiree income tax. 120 East Baltimore St., Baltimore, Maryland, February 2004. Effective January 1, 2022, all State regular and contractual employees will receive a 1% COLA. 2022 Cost-of-Living Adjustment - Montgomery County Public Schools e-mail: mcountess@sra.state.md.us, BUDGET & CONTRACTS Vacancy, Director (410) 625-5665 The tax relief agreement comes at a time when the state has billions of dollars in surplus that has resulted from enormous federal aid to address the COVID-19 pandemic. Maryland Manual On-Line REAL ASSETS Melody L. Countess, Records Officer (410) 625-5650 387 0 obj <>/Filter/FlateDecode/ID[<5E788E31F308DE4CA6E54AFAE7992907>]/Index[364 39]/Info 363 0 R/Length 109/Prev 261179/Root 365 0 R/Size 403/Type/XRef/W[1 3 1]>>stream Danita Johnson, Managing Director (410) 625-5629, PRIVATE EQUITY FY 2023 (01/01/2023) Subtraction for Public Safety Retirement Income New for 2022: An individual taxpayer may now claim both the standard Pension Exclusion and the Subtraction for Retired Correctional Officer, Law Enforcement Officer, or Fire, Rescue, or Emergency Services Personnel. Chosen by Board of Trustees: H. Joseph Puller, Director (410) 625-5878 e-mail: kreott@sra.state.md.us This year's COLA rate is 4.698 percent. Maryland Retirement Income Form. on their current allowance, allowing COLAs to compound over time. Leshia D. Cornish-Covington, Director (410) 625-5612 INFORMATION SYSTEMS SECURITY & QUALITY Gregory C. Kasten, Managing Director (410) 625-8306 Rights assessment, and full originating source citation, is the responsibility of the user. Maryland State Retirement and Pension System | Baltimore MD The state started the session in January with about $4.6 billion in surplus, and the amount grew even higher as officials revised revenue estimates earlier this month. Members will see the COLA beginning with their July 31, 2022 pension check/deposit. Sign up for the County Executive's weekly newsletter and stay up to date on everything Howard County. Maryland Universities & Colleges Please note that pension information is specific to the Frederick County Employees Retirement Plan and does not apply to county employees who participate in the State of Maryland Retirement System. State Payroll Services Salary Scales - Marylandtaxes.gov correctional officers and police will notice an increase to their Danita Johnson, Managing Director (410) 625-5629 REAL ASSETS The increased monthly benefit will be shown on the Automatic Deposit Advice mailed to the homes of all retirees on July 31. The COLA is based on the percentage change in the Consumer Price Index (CPI-U) for the Baltimore-Columbia-Towson area, from February of the current year to February of the preceding year as published by the Bureau of Labor Statistics. Melody L. Countess, Records Officer (410) 625-5650 Lawrence P. Katsafanas, Managing Director (410) 625-5626 of Legislative Audits operates a toll-free External Affairs Division. ADMINISTRATION The annual COLA is applied according to the yearly Consumer Price Index (CPI). A member must be retired at least one year as of July 1 to be eligible to receive that years increase. Thomas M. Brandt, Jr.; Jamaal R. A. Craddock; Kenneth B. Haines; Michael J. Howard; Robert F. Sandlass, Jr. CORPORATE GOVERNANCE & SECURITIES LITIGATION COMMITTEE Retiree News and Notes, July newsletter. Effective, and revision dates for each set of scales is noted below. The compound rate applies for eligible payees of all adjustment (COLA) takes effect. The State Retirement and Pension System administers death, disability and. Delores J. Mitchell, Director (410) 625-5651 Maryland Manual On-Line investments from 7.40% to 6.80%. When this material is used, in whole or in part, proper citation and credit must be attributed to the Maryland State Archives. Each January 1, Montgomery County Public Schools (MCPS) Employees Retirement and Pension System includes a provision for an annual cost-of-living adjustment (COLA). It also includes funding to expand access to child care and protect against growing cyber security threats. of fees, on investments for the fiscal year that ended June 30, For retirees under the Local Fire and Police System and Employee's Non-Contributory Pension System, the annual COLA is calculated using the initial retirement allowance. Melody L. Countess, Records Officer (410) 625-5650 2021. How is the annual COLA increase applied? e-mail: mcountess@sra.state.md.us, OFFICE SERVICES Therefore, the COLA for the portion of your benefits based on credited service earned. e-mail: rburd@sra.state.md.us pandemic. of those systems receive a salary increase. . This year, the COLA rate does not exceed any of the rate caps REAL ASSETS The 2022-2023 mini grant application period is now closed. year as of July 1, 2020 qualifies for this years COLA. Please check back in the Fall of 2023 for further information. Maryland Retired School Personnel Association - mrspa DATA CONTROL Melody L. Countess, Records Officer (410) 625-5650 Q. e-mail: mcountess@sra.state.md.us 1.812%. The chart below shows the percentage of COLA increase that . REAL ASSETS QUANTITATIVE STRATEGIES death benefit: Baltimore, MD (May 19, 2021) Following a nationwide search Lawrence P. Katsafanas, Managing Director (410) 625-5626 Maryland at a Glance System, the compound rate applies.). By statute, SERS' COLA is based on the year-to-year change in the Consumer Price Index (June 2020 to June 2021) for Urban Wage Earners (CPI-W), with a range of 0% to 2.5%. Retirees 65 years old and older that make up to $100,000 . Charelle Saunders, Director (410) 625-5500 Gregory Ricci, Managing Director (410) 625-5631 Retired Maryland teachers, state and municipal employees, e-mail: rcohen@sra.state.md.us, INTERNAL AUDIT e-mail: apalmer@sra.state.md.us Robert H. Burd, Deputy Chief Investment Officer (410) 625-5571 Retiree - Cost of Living Adjustment (COLA) All Services Montgomery County Employee Retirement Plans Effective July 1, 2022, eligible retirees and others receiving annuity payments from the Montgomery County Employees Retirement System (ERS), will receive a Cost-of-Living-Adjustment (COLA). Danita Johnson, Managing Director (410) 625-5629, QUANTITATIVE STRATEGIES Under the deal, 80% of Maryland retirees will get substantial tax relief or pay no state income taxes at all, the governor's office said By Brian Witte Published March 29, 2022 Updated . Vincent S. Johnson, Director (410) 625-5554 Members with retirement dates on or before March 31, 2022 are eligible to receive the COLA, which is effective April 1 and paid in the retirement benefit received at the end of April. Maryland Municipalities A. GENERAL ACCOUNTING Thomas R. Montanye, Deputy Chief Information Systems Officer (410) 625-5530 PENSION SYSTEMS OPERATIONS News - Maryland State Retirement and Pension System H. Joseph Puller, Director (410) 625-5878 Danita Johnson, Managing Director (410) 625-5629, REAL ASSETS RECORDS MANAGEMENT Michael J. Stafford, Jr., Chair (chosen by Board of Trustees). Maryland Universities & Colleges correctional officers and police will notice an increase to their Systems assets to $67.9 billion, an increase of $13.3 billion Maryland State Agency Directory - Maryland.gov Andrew C. Palmer, Chief Investment Officer (appointed by Board of Trustees upon recommendation of Executive Director) (410) 625-5620 For more information see Maryland State Retirement Agency links below or here. Copyright 2023 Washington State Department of Retirement Systems, Make time this month for a retirement checkup, Annual Comprehensive Financial Report (ACFR), Participating Employer Financial Information (PEFI). 2021 News - Maryland State Retirement and Pension System Gregory C. Kasten, Managing Director (410) 625-8306 Summary:As occurs each year, the Maryland State Retirement and Pension System (MSPRS) has announced the annual cost of living adjustment (COLA) rate. RETIREMENT ADMINISTRATION DIVISION Other caps may apply. Typically, this benefit begins the second calendar year of retirement, although the annual rate of inflation and retirement law could affect the onset of your COLA. A. Vacancy, Director (410) 625-5608, Search the Manual payee with a retirement date of August 2018 would become eligible . e-mail: mdmanual@maryland.gov, FINANCIAL ACCOUNTING OPERATIONS INFORMATION SYSTEMS Maryland Constitutional Offices & Agencies Maryland State Retirement and Pension System | Baltimore MD - Facebook OFFICE SERVICES For example, a payee with a retirement date of July 2019 would become eligible for their first COLA in July 2020. RETIREMENT ADMINISTRATION DIVISION Danita Johnson, Managing Director (410) 625-5629, RETIREMENT ADMINISTRATION DIVISION Kenneth M. Reott, Retirement Administrator (410) 625-5659 0165 State Police Retirement System 78.09% of 0101 . State Police Retirement System, 1949-70. Salaries are budgeted for the Fiscal Year, and are typically updated in July to reflect Cost of Living Adjustments (COLA's), if approved during legislative session each spring. e-mail: tmontanye@sra.state.md.us, INFORMATION SYSTEMS SECURITY & QUALITY This form maybe used by taxpayers to report income modifications and credits applicable to tax year 2022 that are enacted after December 31, 2022. A retirees benefit system determines how the Gregory Ricci, Managing Director (410) 625-5631 State firefighters, police officers and troopers will. Maryland Counties RECORDS MANAGEMENT Charelle Saunders, Director (410) 625-5500 All in all, a record $7.5 billion will be invested in Maryland's public school system this year. NETWORK OPERATIONS ADMINISTRATION Details of the COLA calculation are set forth in Section 1.435 and 1.435(A) of the Howard County Code. A payee does not need PLEASE NOTE: The site may contain material from other sources which may be under copyright. APPROVED: A 1.5% monthly cost of living adjustment (COLA) for retirees and beneficiaries. Baltimore, MD (August 10, 2021) The Board of Trustees of the e-mail: rdiehl@sra.state.md.us MFR (Managing for Results) - The MFR strategic plan outlines each agency's mission, vision, goals, objectives and performance metrics. monthly retirement benefit in July as the annual cost-of-living Baltimore, MD (Jan. 13, 2022) - Employees of the University System of Maryland will benefit from both cost-of-living and merit pay increases according to budget plans announced by the administration of Governor Larry Hogan on Jan. 4, 2022. Medical Plans: CareFirst BlueCross BlueShield (EPO, PPO) Kaiser Permanente (IHM) UnitedHealthcare (EPO, PPO) Prescription Drug Plan: CVS Caremark. SPECIAL PROJECTS Maryland State Retirement and Pension System (MSRPS) has voted to Maryland State Retirement and Pension System. For service Maryland Gov. Director, effective July 1. This year's COLA rate is 1.812%. Use tab to navigate through the menu items. Vacancy, Director (410) 625-5608 for their first COLA in July 2020. on or after July 1, 2011 will be 2.00 percent. PRIVATE EQUITY The increaseswhich include a one-time, $1,500 bonuswill be implemented in stages during 2022, and . MEMBER SERVICES & COUNSELING Robert A. Diehl, Chief Information Systems Officer (410) 625-5547 DBM will provide funding in the DBM Allowance budget for any FY 2022 salary adjustment for COLA and/or SLEOLA . Montgomery County Employee Retirement Plans Payees may be eligible to receive COLAs on their retirement allowance each July. web: https://sra.maryland.gov/. *The COLA catch-up is in effect for retirees and beneficiaries whose benefit commencement began prior to August 1, 2020*. Maryland State Retirement & Pension System STATE RETIREMENT & PENSION SYSTEM Board Minutes Martin M. Noven, Executive Director, State Retirement Agency 120 East Baltimore St., Baltimore, MD 21202 - 1600 (410) 625-5555; 1-800-492-5909 (toll free); fax: (410) 468-1707 e-mail: sra@sra.state.md.us web: https://sra.maryland.gov/ INVESTMENT DIVISION Pension System Board since 2018, has been re-elected to a second It also will maintain a record level of funding in the state's Rainy Day Fund. Staff: Anne E. Gawthrop (410) 625-5602; e-mail: agawthrop@sra.state.md.us, Eric D. Brotman, Chair (chosen by Chair, Board of Trustees), Appointed by Senate President: one vacancy, Appointed by Senate President & House Speaker: Mary Miller, Appointed by Chair, Board of Trustees: Theresa M. Lochte, Ex officio: Dereck E. Davis, State Treasurer; Helene T. Grady, Acting Secretary of Budget & Management, COUNSEL Megan Myers, Deputy Retirement Administrator (410) 625-5555; e-mail: mmyers@sra.state.md.us 95-17 created the Anne Arundel County Employee Retirement Savings Plan. Retirement Benefits: Youre eligible for retirementbenefits administrated by DRS, Learn More. beenselected astheSystemsnew Executive COLAs for payees of the Judges Retirement System or the USM Employees to Receive 2022 Pay Increases as Part of Budget Plans State of Maryland employees who retired on or after July 1, 2021 will be eligible for the annual COLA beginning July 2022. 73 were here. MCPS Pension Plan Members For MCPS Pension Plan members, the COLA for benefits based on credited service earned prior to July 1, 2011, is subject to a 3 percent cap. specific terms of their plans. SPECIAL PROJECTS This May, all CalPERS retirees who retired in 2020 or earlier will receive an increase to their cost-of-living adjustment (COLA). PRIVATE EQUITY Gregory Ricci, Managing Director (410) 625-5631 for the fiscal year which ended June 30, 2021, its funded ratio Maryland State Retirement and Pension System, Health Insurance Premium Tax Exclusion FAQ, Enrollment and Withdrawal for Local Governments, Fiscal Year Quarterly Performance Reports, Maryland Pension Risk Mitigation Act Risk Assessment, Eligible retirees to receive 1.812% cost-of-living adjustment in July. e-mail: apalmer@sra.state.md.us The COLA will be paid as a 1.5% increase as of July 1, 2022 with the following stipulations: must have a retirement effective date on or before 12/01/2021 for the July 2022 COLA, and non-disability retirees must be at least 45 years of age or older for at least twelve months before they are eligible for their COLA rates established for 2021 - Department of Retirement Systems Olszewski Announces Approval for Largest Cost of Living Increase for Maryland Executive Commissions, Committees, Task Forces, & Advisory Boards Maryland Constitutional Offices & Agencies of 24.41 by 230 basis points. Robert H. Burd, Deputy Chief Investment Officer (410) 625-5571 Kenneth M. Reott, Retirement Administrator (410) 625-5659 Melody L. Countess, Chief Operating Officer (410) 625-5650 This year's COLA rate for the fiscal year beginning July 1 is 1.234%. to be retired for at least twelve months before becoming eligible (For retirees who transferred into Lawrence P. Katsafanas, Managing Director (410) 625-5626 COLAs are effective with the July benefit payment, and are based upon changes in the Consumer Price Index. Maryland Departments OFFICE SERVICES Elected by Employees' Retirement & Pension Systems' members & beneficiaries to 4-year terms: Sheila Hill, 2023; Jamaal R. A. Craddock, 2025. OBJECTIVE CRITERIA COMMITTEE Lawrence P. Katsafanas, Managing Director (410) 625-5626 hotline in the past has helped to eliminate The last two years of the pandemic have shown the cracks in our states civic infrastructure, Ferguson, of Baltimore, said. the correct adjustment to each individual retirement allowance. A payee must be retired for at least twelve months before they are eligible for their first COLA.
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