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New York Employees Retirement System Subsequent Employment of Active Rs 5520 Form

New York Employees Retirement System Subsequent Employment of Active Rs 5520 Form

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Every year, eligible NYCERS retirees receive an adjustment to their pension benefit to counteract inflation. This annual increase is called a Cost-of-Living Adjustment, or COLA, for short. The COLA rate is calculated based on the Cost-of-Living Index, which is also known as the Consumer Price Index, or CPI – as well as a formula set by New York State law. The increase changes annually, but by law, cannot be lower than 1 percent, or higher than 3 percent. Each year’s COLA rate is published on nycers.org in August. There are many factors that determine a retiree’s eligibility for COLA. The retirees most commonly eligible are: Disability retirees, regardless of age, who have been retired for at least 5 years. Service retirees, who are at least age 62 and who have been retired for at least 5 years. And service retirees who are at least age 55 and who have been retired for at least 10 years. Some factors may make you ineligible to receive COLA. To determine your eligibility, please re

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