Tier 1 retirees are eligible to receive a cost of living
adjustment (COLA) annually.
This adjustment is effective April each year and is first payable in April’s month-end payment.
The MercedCERA Board voted unanimously via roll call vote to approve the COLA rate recommended by Cheiron of 2.5% to Tier I retirees who retired April 2, 2023 through April 1, 2024. Members who retired prior to April 2, 2023 have a COLA bank and will use their accumulated COLA carry-over balance to complete the 3% maximum COLA authorized by the MercedCERA Board of Retirement.