|Members Retirees Employers|
Pension Reform Changes
Age and Service Credit
Passed in 2012, the changes consist of an increase in the age and years of service requirements that determine a member’s retirement eligibility. These changes were implemented to address the longer life expectancy of retirees.
Members who have fewer than 25 years of service credit on or after August 1, 2017 must require under the new retirement eligibility requirements.
Click here for more information on the new eligibility requirements, as well as a series of videos to address your different pension reform options.
Cost-of-Living Adjustment (COLA)
The proposed COLA changes, estimated to take effect January 1, 2018, are necessary to address immediate financial challenges and long-term funding goals.
While the pension reform changes in 2012 only impacted active members, the COLA changes will equally and fairly affect both active members and retirees.
Click here to find out how your COLA will be changing.