According to Retirement Security Plan provisions, retirees receiving an RSP pension may be eligible for an annual cost-of-living adjustment (COLA). This increase is for retirees who have received benefits for 12 months as of March 31, 2022.
In accordance with the Plan document, actuaries determine if payment increases are required by looking at the change in the CPI (Consumer Price Index). Using the appropriate formula, they decide if there will be an increase and if so what the percentage will be.
This year, there will be an increase of 4% effective on your Friday, April 1, 2022 annuity payment.
You may contact Human Resources Analyst Teresa Exley with questions regarding the COLA or the Retirement Security Plan. Notify HRBenefits@plano.gov if your mailing address or email address changes.