The San Antonio Fire and Police Pension Fund Trustees will take up the issue of increasing the cost-of-living adjustment (COLA) for retirees at its January 30th Board meeting.
The increases are based on the inflation numbers released by the U.S. Bureau of Labor Statistics which saw the Consumer Price Index increase by 3.4% for the calendar year 2023.
Therefore, according to Pension Fund law, the San Antonio fire and police pensioners who retired 09/30/1999 and earlier will receive 3.4% COLA increase effective 01/01/2024.
Those retiring 10/01/1999 through 01/01/2023 will receive 75% of the 3.4% or 2.6%.
Those retiring 01/02/2023 and later will receive prorated portion of 2.6% based on full months retired as of 12/31/2023.
To learn more about price inflation according to the BLS, see their news release.
https://www.bls.gov/news.release/cpi.t01.htm
This item will be on the January 30th Pension Board Agenda for approval by the Board. The COLA will be included in the January checks of the current retirees.
