2022 COST OF LIVING ADJUSTMENT EFFECTIVE JULY 1
Each year the LACERS Board of Administration considers a Cost of Living Adjustment (COLA) for eligible LACERS Retired Members and Beneficiaries. The COLA is a reflection of the Consumer Price Index (CPI) for the Los Angeles Area, which has been determined to be 3.8% for 2022.
The maximum COLA is set by the City of Los Angeles Administrative Code at 3.0% for Tier 1 and Tier 1 Enhanced Members and is set at 2.0% for Tier 3 Members. For Tier 1 and Tier 1 Enhanced Members, COLAs in excess of 3% will be banked for use during future years.
All Tier 1 and Tier 1 Enhanced Members who retired after June 30, 2021, will receive a COLA of 1/12th of the 3.0% for each full month of retirement completed by June 30, 2022. Similarly, all Tier 3 Members who retired after June 30, 2021, will receive a COLA of 1/12th of the 2.0% for each full month completed by June 30, 2022.
The COLA will be included in all eligible Retired Members’ and Beneficiaries’ July 31, 2022, check or direct deposit. For more information on the LACERS COLA and to view a chart of what your COLA will be based on for your Membership Tier, potential COLA bank, and retirement date, please visit lacers.org/cost-living-adjustments-cola.
JOIN LACERS WELL AT THESE UPCOMING AUGUST VIRTUAL EVENTS
- Mom’s Computer Technology Class
Mom’s Computer will be hosting the next monthly Technology class on Wednesday, August 10 at 3:00 p.m. These classes help Members navigate the changing technology landscape and offer tips on using computers, smart phones/tablets, the Internet, and more. Zoom video conferencing information will be provided to all registered individuals one day prior to the class.
- Fitness Made Simple – Exercise Class
Join Coach Sean Foy on Wednesday, August 17 at 9:30 a.m. as he helps you train in the comfort of your own home to realize your personal health and fitness goals. All from the convenience of your home computer and even on the go with your mobile phone, Coach Sean will show you how simple it can be, to get fit and stay fit, anytime, anywhere, empowering you with ongoing inspiration, training, tools and coaching to help you realize your desired personal health and fitness goals in 2022.
- Brain Health Class
Alzheimer’s Los Angeles (ALZLA) will be hosting monthly Brain Health classes via Zoom on Wednesday, August 24 at 2:00 p.m. ALZLA’s mission is to improve the lives of local families affected by Alzheimer’s and dementia by increasing awareness, delivering effective programs and services, providing compassionate support, and advocating for quality care and a cure.
- SilverSneakers Webinar
The SilverSneakers webinar is taking place on Tuesday, August 16 at 9:00 a.m. As a LACERS Member, SilverSneakers is a free program included in your Anthem Blue Cross, SCAN Health Plan and United Healthcare coverage. The SilverSneakers program includes free gym membership to participating gyms as well as at-home and online resources. The SilverSneakers team will share all of the tools and resources included in your SilverSneakers benefit to help you stay active, connected and improve your overall well-being!
- Silver&Fit Program Webinar
The Silver&Fit® webinar is taking place on Tuesday, August 23 at 9:00 a.m. As a LACERS Member, the Silver&Fit® program is included with your Kaiser Permanente Senior Advantage plan at no cost. Whether you prefer classes from home or workouts at the gym, the Silver&Fit® program is complete, safe, and convenient. All registered attendees will automatically be entered into an opportunity prize drawing.
- Active&Fit Program Webinar
The Active&Fit® webinar is taking place on Thursday, August 25 at 9:00 a.m. As a LACERS Member, The Active&Fit program is a no-cost benefit included with your Kaiser Permanente HMO plan. This program offers members fitness center memberships, a home fitness kit, activity tracking, and more. Active&Fit members get easy access to activity improvement―and motivation along the way. All registered attendees will automatically be entered into an opportunity prize drawing.
Missed past LACERS Well events? We have several event recordings on various topics – finances, emotional wellness, fitness, and more! Visit the LACERS YouTube channel at YouTube.com.lacersyoutube and be sure to hit the subscribe button to receive alerts of newly posted videos.