Retiree News

 Cost-of-Living Adjustment for Retirees in the State Teacher's Retirement Plan

The Maryland State Retirement Agency has announced the cost-of-living adjustment which is applied in July each year. This year’s COLA rate is 1.812%. A retiree who has been retired at least one year as of July 1, 2020 qualifies for this year’s COLA. The increased monthly benefit will be shown on the Automatic Deposit Advice mailed to the homes of all retirees on July 31. Those who retired after July 2019 (August 2019 or later) will receive their first COLA increase in July 2021