Updated 12/17/2020

FY21 budget signed by the Governor; retroactive COLA included in December benefit payments

On Friday December 11, the Governor signed the final FY2021 budget, which includes a 3% COLA on the first $13,000 of your MTRS benefit, retroactive to July 1, 2020.

The retroactive COLA will be included in the December 2020 benefit payment to those retirees whose retirement date was on or before 06/30/2019.

As the December payment date approaches, watch your inbox for important reminders for 2021 and instructions on reading your year-end payment summary.

Have a safe and happy holiday season!