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Plan 1 Uniform COLA

and Minimum Benefit Increases

Figures below track the growth of the Plan 1 Uniform COLA since its inception in 1995.  Amounts are rounded to the nearest cent.

In 1997, the Uniform COLA design was amended to include a gain-sharing provision.  Gain-sharing boosted the annual COLA increase amount when the return on retirement fund investments exceeded a specified level of gains. These so-called "extraordinary gains" were calculated every two years.

In 2007, the Legislature repealed gain-sharing after the 2008 distribution.

 

More about gain-sharing

Uniform COLA
Date Gain-Sharing Annual Increase1 Total Increase Uniform COLA2 Minimum Benefit3
2009   $0.10 $0.10 $1.83 $40.75
2008 $0.35 $0.05 $0.40 $1.73 $38.92
2007   $0.04 $0.04 $1.33 $36.84
2006   $0.04 $0.04 $1.29 $35.51
2005   $0.04 $0.04 $1.25 $34.22
2004 $0.00 $0.03 $0.03 $1.21 $32.97
2003   $0.04 $0.04 $1.18 $31.76
2002 $0.00 $0.03 $0.03 $1.14 $30.58
2001   $0.03 $0.03 $1.11 $29.44
2000 $0.28 $0.03 $0.31 $1.08 $28.33
1999   $0.03 $0.03 $0.77 $26.97
1998 $0.10 $0.01 $0.11 $0.74 $26.20
1997   $0.02 $0.02 $0.63 $25.46
1996   $0.02 $0.02 $0.61 $24.83
1995   $0.59 $0.59 $0.59 $24.22
1 The 1995 adjustment of $0.59 is increased by 3% annually. 
  The 7/1/2009 annual increase includes an additional $0.05 in
  accordance with EHB 2391, the 2007 Legislation that repealed
  gain-sharing.
2 Per month per year of service. 
3 Per month per year of service.  The minimum benefit is adjusted
  annually by  the total of the Uniform COLA and gain-sharing, if
  applicable.