July 24, 2023
The next Annual Increase (AI) will be paid in July 2023 and will be 1.0% for eligible benefit recipients.
Keep in mind that you may have to meet certain eligibility requirements before receiving your first AI. Eligibility for the AI and the amount of the AI depends on the following:
- Your benefit structure (PERA or DPS)
- Your membership start date
- Whether or not you received an AI prior to May 1, 2018
- The type of benefit you are receiving—full service retirement, reduced service retirement, disability retirement, or survivor benefit (the AI for a cobeneficiary who becomes a benefit recipient following the death of the retiree is based on the original retiree’s benefit type, retirement date, and age)
- Your effective date of retirement
- For reduced service retirement, if you were eligible to retire on January 1, 2011
All AIs are paid in July and subject to change with the automatic adjustment provision.