FY2024 3% Cost of Living Adjustment
Posted on: June 27, 2023 - 10:42am
The Retirement Board voted at their June 20, 2023 meeting to approve a 3% Cost of Living Adjustment (C.O.L.A.) for Milford Retirement System Retirees effective July 1, 2023. This increase is calculated on the first $13,000 of the annual benefit. Monthly payments of the FY2024 C.O.L.A. will begin with your July 31, 2023 payment.
(to be eligible for the C.O.L.A. increase, you must have retired before July 1, 2022)