| 2006 Cost-of-Living Adjustment (COLA) Information |
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Most Tier One and Tier Two retirees and beneficiaries receiving a monthly benefit will receive a 2006 cost-of-living adjustment (COLA).
The 2 percent COLA increase was effective July 1, 2006, and will be reflected beginning with the August 1, 2006 payment.
However, if you are a Tier One Money Match retired member or beneficiary receiving a monthly benefit with an effective retirement date from April 1, 2000 through March 1, 2004, the COLA will not be applied at this time. You were subject to the COLA suspension as a result of 2003 PERS Reform legislation.
Some retirees whose COLA was suspended but then restored due to yearly recalculations will receive the COLA if they were notified by PERS prior to the Strunk decision that their COLA would resume.
The COLA suspension was overturned by the Oregon Supreme Court in the Strunk case and PERS will add any frozen COLAs into the individual account recalculation based on the City of Eugene Settlement Agreement. The restored COLAs will help offset any overpayments received by a retiree or beneficiary as a result of earnings overcrediting in 1999.
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