Links for Retirees
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| 1969 | 10% benefit increase to all not already drawing $400 per month |
1971 |
40% increase in retirement formula |
1973 |
Minimum benefit increased 66-2/3% for pre-October 1971 retirees |
1975 |
15% increase in retirement formula |
| 15% increase guarantees to all retirees | |
| Retirement after 30 years with no penalty | |
1978 |
Cost-of-living increases from $60-$30 per month for all who retired prior to October 1, 1977 |
1980 |
Cost-of-living increases from $60-$30 per month for all who retired prior to October 1, 1979 |
1982 |
Cost-of-living increase of $1 per month for each year of service for all who retired prior to October 1, 1981 |
1983 |
Special legislation created the Public Education Employees Health Insurance Program (PEEHIP), through which retirees can purchase group health coverage. |
1985 |
Cost-of-living raise of $2 per month for each year of creditable service passed for all who retired prior to October 1, 1984 |
1989 |
Cost-of-living increase of $1 per month for each year of service for all who retired prior to October 1, 1988. |
1988 |
Cost-of-living raise of $1 per month on October 1, 1988 for each year of service for all retired prior to October 1, 1987. In October 1989, the cost-of-living allowance was increased to $2 per month. |
1990 |
Cost-of-living increase of $1 per month on October 1, 1990 for each year of service and $3 per month for each year of retirement. |
1993 |
Cost-of-living increase on October 1, 1993 of 1.28% of gross benefit, $1.28 per month for years of service and $1.28 per month for years of retirement for all who retired prior to October 1, 1992. |
1994 |
Cost-of-living increase on October 1, 1994 of 2.5% of gross benefit, $1.50 per month for years of service and $1.00 per month for years of retirement for all who retired prior to October 1, 1994. |
1996 |
Cost-of-living increase on October 1, 1996 of 2% of gross benefit and $1.00 per month for years of service for all who retired prior to October 1, 1996 |
1998 |
Cost-of-living increase on October 1, 1998 of 4% of gross benefit and $2.00 per month for years of service for all who retired prior to October 1, 1998. |
2000 |
Cost-of-living increase on October 1, 2000 of 4% of gross benefit for all who retired prior to October 1, 2000. |
2002 |
Cost-of-living increase on October 1, 2002 of 3% of gross benefit for all who retired prior to October 1, 2001. |
2005 |
Cost-of-living increase on October 1, 2005 of 4% of gross benefit for all who retired prior to October 1, 2004. |