Posted on: Wednesday, January 27, 2021
HPOPS COLAS
2021 Meet & Confer Rumors
We have been getting questions concerning this year’s COLA so here is an update. The annual COLA rate is approved by the Board of Trustees every year in the March Board meeting (this year that will be on March 11) and the COLA is effective for the April pension benefit payments. This year the COLA moratorium has expired and all retired members or survivors who are 55 years of age or older as of April 1, 2021 are eligible for a COLA.

We have had an initial conversation with the Mayor to discuss the framework for a review of our current benefit structure. While no specific changes are on the table we did agree to continue the discussion with an aim to possibly make some changes through the Meet & Confer process. As we have stated previously, there will be no discussions with the Mayor regarding a reduction in benefits.  Due to COVID and the current legislative session these discussions have temporarily been put on hold. We will keep you informed as things progress.
 
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