Cost of living adjustment (COLA) for July 1, 2022

Public safety, corrections, and elected officials plan retirees and surviving beneficiaries will receive benefit increases in July. These increases will be reflected in the benefit payments scheduled to be distributed July 29, 2022.

For most retirees and beneficiaries, the increase will amount to a 2 percent cost-of-living-adjustment. However, those who retired less than one year ago will receive a prorated increase based on the starting date of their retirement.

Retiree and survivor benefit increases are capped at 2 percent annually due to the passage of ballot propositions 124 and 125. Passed in 2016 and 2018, respectively, the measures determine benefit increases through changes to the Consumer Price Index for the Phoenix and Mesa metropolitan-area as published by the U.S. Bureau of Labor Statistics.

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