Benefit Increases

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Benefit Increases

Each March, PERA increases retirement benefits by 3.5 percent. This increase occurs on the last business day in March.

Please note: Members hired on or after July 1, 2005, will receive an annual increase that will be the lower of 3 percent or the CPI for urban wage earners and clerical workers during the calendar year preceding the annual increase.

Members who retired during 2005 will receive a prorated annual increase, which is a proportional amount of the 3.5 percent increase, as listed below. (January and February 2005 retirees receive one or two additional month's increase in March 2006 to bring them current to the March cycle.)