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2022 COLA Rate

Jan 25, 2022, 09:17 AM by MOSERS
Will we get the 5% Cola this year? Medicare gave a raise of 5.9%. If not please explain.

The COLA rate for 2022 is 3.758%.

According to Missouri state law, MOSERS calculates COLAS as follows:

Each January, we must compare the average Consumer Price Index for Urban Consumers (CPI-U) for the calendar year just completed (2021) to the average CPI from the prior year (2020) to determine the percentage change between the two years. For general state employees, COLAs are based on 80% of the percentage increase in the average (CPI) from one year to the next. The maximum increase is 5% (minimum 0%).

The 2022 COLA rate of 3.758% applies to: 

  • All retired members of MSEP 2000 and MSEP 2011
  • MSEP retirees who have reached their 65% COLA cap
  • MSEP retirees first employed on or after August 28, 1997

If you were employed before August 28, 1997, and retired under MSEP, you will get a COLA of at least 4% each year (maximum 5%) until you reach your COLA cap. You reach the COLA cap when the sum of your COLAs equals 65% of your initial base benefit amount. After reaching your COLA cap, your annual COLA will be equal to 80% of the percentage increase in the average Consumer Price Index (CPI) from one year to the next, which, as noted above, is 3.758 for 2022.

The purpose of a COLA for any type of pay or retirement benefit is to help you cope with inflation. COLAs help you maintain your purchasing power as inflation increases the cost of various items you buy. See the article, The 2022 COLA is Here, and the COLA page on our website for more information. 

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