Pensions

PSERS SERS

Cost of Living Adjustments

Would enact supplemental annuities for individuals who retired prior to July 2, 2001 for SERS and PSERS. The amount of the supplemental annuity would be based on the annuity payment received in the June prior to the July it would be issued, essentially a 13th monthly check for the years 2024, 2025 and 2026. Initial changes in the employer contribution rate for both systems would occur in FY 2024-25.