The Rhode Island General Treasurer’s office announced today that retired state employees will begin to receive cost of living adjustments beginning with the July pension benefit.
The announcement says that the change was made possible by the passage of the 2025 fiscal year budget which included the implementation of a cost of living adjustment for retirees. The adjustment applies to retired state employees, teachers, and municipal employees who retired on or before June 30, 2012.
The cost of living adjustment payment for 2024 will increase from 0.71% to 2.84% and will be based on either a member’s retirement allowance or the first $29,776 of their retirement allowance. The index is subject to annual increases per state law.
“I’m proud of our team at the Employees’ Retirement System of Rhode Island for their efforts to quickly implement the necessary changes and expedite COLA payments to retirees,” said General Treasurer Diossa.
For more information on the cost of living adjustment for retired state employees, please visit the ERSRI website or call 401-462-7600.
Generative artificial intelligence (AI) assisted a What’sUpNewp journalist with the reporting included in this story.
