2014 COLA
Cost of Living Adjustments (COLA)
The COLA for 2014 is 0.5%
A Cost of Living Adjustment (COLA) is made to a pensioner’s
benefit to reflect annual changes in the cost of living and is
calculated as a percentage of his/her current benefit.
Effective July 1, 2014, eligible pensions for members and
beneficiaries of Tiers 1 – 6, (including DROP) will be adjusted
by 0.5% for the pension payment dated July 31, 2014.
Please follow the appropriate link for a summary of your tier’s
COLA provisions:
Tier 1/Tier 2 COLA Overview
Tier 3 COLA Overview
Tier 4 COLA Overview
Tier 5 COLA Overview
Tier 6 COLA Overview
DROP COLA Overview
A summary of Historical COLA Percentages is also available for
viewing.
Determining the COLA
Pursuant to the Charter and the Administrative Code, the size of
any year’s COLA is based on the annual change in the Consumer
Price Index (CPI) as published by the Bureau of Labor Statistics.
Specifically, we look at the change in the CPI for All Urban
Consumers in the Los Angeles-Riverside-Orange County Area for the
prior 12-month period ending February.
A list of the goods and services included in the CPI is available
here. You may also review the step-by-step instructions on How to
Access CPI Data.
Questions
If you have questions about the COLA, please contact Retirement
Services at (213) 978-4495 or, (800) 787-2489, ext. 84495. You
may also send an email to pensions@lafpp.com. For questions
about the CPI, please visit the Bureau of Labor Statistics’
website, or call (415) 625-2270.