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The Cost of Living Adjustment (COLA) is 2.5% for 2019 and was approved by the Board of Fire and Police Pension Commissioners on March 21, 2019.&nbsp; The COLA will be effective July 1, 2019, and all eligible pensioners and DROP participants will receive an increase accordingly, beginning with the pension payment dated July 31, 2019. &nbsp;For new pensioners or DROP entrants in Tiers 3-6, the first year’s COLA is prorated based on the number of completed months since the effective pension date.



<ul>
<li>Tiers 1 and 2 will receive 2.5%.</li>



<li>Tiers 3 and 4 will receive up to 2.5%.</li>



<li>Tiers 5 and 6 will withdraw and apply 0.5% from their COLA bank balance of 0.6% and receive up to 3.0% (NOTE: Must have retired or entered DROP prior to June 2, 2018 in order to have available COLA bank balance).</li>
</ul>



<h3 class="wp-block-heading">Consumer Price Index/Bureau of Labor Statistics</h3>



The COLA is based on the annual change in the Consumer Price Index (CPI) as published by the Bureau of Labor Statistics (BLS).&nbsp; The 2019 COLA was calculated based on the Los Angeles-Long Beach-Anaheim area using a 12-month period from March 2018 through February 2019.



<h3 class="wp-block-heading">How does this affect LAFPP Pensioners?</h3>



This is an example of how a monthly pension benefit of $5,890 would be affected by this year’s COLA of 2.5%:



For Tiers 1 through 4



If 2.5% of $5,890 = $147.25



($5,890 x 0.025)



Then the monthly pension benefit would be increased to $6,037.25.



($5,890 + $147.25)



For Tiers 5 and 6 with available COLA bank



If 3.0% of $5,890 = $176.70



($5,890 x 0.030)



Then the monthly pension benefit would be increased to $6,066.70.



($5,890 + $176.70)



Tiers 5 and 6 will have 0.1% remaining in their COLA bank.



<h3 class="wp-block-heading">Questions?</h3>



For questions regarding the COLA, please contact the Retirement Services Section at (213) 279-3125 or (844) 88-LAFPP, ext. 93125.&nbsp;



For detailed information on the calculation of the CPI, please visit the <a href="https://www.bls.gov/cpi/" target="_blank" rel="noreferrer noopener" class="broken_link">BLS website</a> or call (202) 691-7000.

COLA 2019

May 2024

April 2024

March 2024

February 2024

September 2024

January 2024

August 2024

July 2024

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