Details of the COLA calculation are set forth in Section 1.435 and 1.435(A) of the Howard County Code. PUBLIC EQUITY Maryland Universities & Colleges Maryland Municipalities H. Joseph Puller, Director (410) 625-5878 Delores J. Mitchell, Director (410) 625-5651 The agreement also includes sales tax exemptions for child care products such as diapers, car seats, and baby bottles, as well as critical health products such as dental hygiene products, diabetic care products, and medical devices. State Retirement & Pension System. The cola for retirees who receive their core pension from the state retirement agency (msra), if awarded, will be effective on july 1, 2023. February 17, 2022 - Governor Larry Hogan today submitted a $74.1 million supplemental budget for Fiscal Year 2022 that provides a $1,000 bonus for all state employees. Price Index (CPI) for the most recent calendar year ending FIXED INCOME CURRENCIES & COMMODITIES Finance Division. Megan Myers, Deputy Retirement Administrator (410) 625-5555; e-mail: mmyers@sra.state.md.us MCPS Pension Plan Members For MCPS Pension Plan members, the COLA for benefits based on credited service earned prior to July 1, 2011, is subject to a 3 percent cap. This rate is then compared to the maximum COLA rate allowed by Robert H. Burd, Deputy Chief Investment Officer (410) 625-5571 e-mail: apalmer@sra.state.md.us Complete Your Open Enrollment Elections Quick ReferenceGuide-. Maryland State Retirement and Pension System, Health Insurance Premium Tax Exclusion FAQ, Enrollment and Withdrawal for Local Governments, Fiscal Year Quarterly Performance Reports, Maryland Pension Risk Mitigation Act Risk Assessment, Historic Earnings Moves The Maryland State Retirement and Pension System Funded Ratio Close to 80%, Actuary Says MSRPS Funded Ratio Nearly 77%, State Retirement Board Reduces Actuarial Assumed Rate of Return, Rate reduced from 7.40% to 6.80% for Fiscal 2023, The Maryland State Retirement and Pension System Earns Historic 26.7% During FY 2021, Fund grows more than $13 billion to nearly $68 billion, SRPS members return Craddock to Board of Trustees, COVID-19 Line-of-Duty Death Benefit Now Available to Members of the Maryland State Retirement and Pension System, Special Benefit Covers Period Between March 5, 2020 and July 1, 2022, Martin Noven named Executive Director of Maryland State Retirement Agency, Eligible retirees to receive 1.234% cost-of-living adjustment in July. Therefore, the COLA for the portion of your benefits based on credited service earned. Members will see the COLA beginning with their July 31, 2022 pension check/deposit. Q. of fees, on investments for the fiscal year that ended June 30, PRIVATE EQUITY announced that its portfolio returned a record-setting 26.7%, net COLAs are effective with the July benefit payment, and are based upon changes in the Consumer Price Index. Maryland Executive Commissions, Committees, Task Forces, & Advisory Boards 0165 State Police Retirement System 78.09% of 0101 . INVESTMENT COMMITTEE QUANTITATIVE STRATEGIES Robert H. Burd, Deputy Chief Investment Officer (410) 625-5571 e-mail: mcountess@sra.state.md.us, FISCAL ACCOUNTING The agreement also makes a one-time $800 million investment in the state's sweeping education reform plan known as the Blueprint for Marylands Future. 120 East Baltimore St., Baltimore, Maryland, February 2004. Maryland Counties . "The significant increase in capital spending, coupled with the Work Opportunity Tax Credit, will help Maryland businesses put more chronically unemployed Marylanders back to work.. All in all, a record $7.5 billion will be invested in Maryland's public school system this year. View the 2022 COLA percentagesby retirement date and plan. It is important to note that the increase will be applied to your gross monthly retirement benefit, before any tax withholding or health insurance premium payments. Retired Maryland teachers, state and municipal employees, correctional officers and police will notice an increase to their monthly retirement benefit in July as the annual cost-of-living adjustment (COLA) takes effect. Retiree Income Tax Credit. Kenneth M. Reott, Retirement Administrator (410) 625-5659 Payees may be eligible to receive COLAs on their retirement allowance each July. Maryland State Retirement and Pension System, Health Insurance Premium Tax Exclusion FAQ, Enrollment and Withdrawal for Local Governments, Fiscal Year Quarterly Performance Reports, Maryland Pension Risk Mitigation Act Risk Assessment, Eligible retirees to receive 1.812% cost-of-living adjustment in July. Maryland Municipalities QUANTITATIVE STRATEGIES DATA CONTROL become effective July 1, 2022. deceased active members of the Maryland State Retirement and members and retirees of the Employees and Teachers Retirement The Board of Trustees of the Maryland State Retirement and Pension System is seeking nominations for a public member to serve as an unpaid advisor to the retirement system's Investment Committee for a three-year term beginning July 1, 2023. Other caps may apply. Additional information is available in theCOLA FAQ section. The annual COLA is applied according to the yearly Consumer Price Index (CPI). QUANTITATIVE STRATEGIES David E. Ferguson, Managing Director (410) 625-5633 The benefit is now The Maryland Retirement Tax Elimination Act. NEW NRTA film on their NRTA 75th Anniversary AARP News. Maryland is both a high income and high cost-of-living state, a tribute to its robust economy and educated workforce but a potential problem for those living on a fixed income as so many older . The State of Maryland pledges to provide constituents, businesses, customers, and stakeholders with friendly and courteous, timely and responsive, accurate and consistent, accessible and convenient, and truthful and transparent services. Vacancy, Director (410) 625-5608, MEMBER SERVICES & COUNSELING Dimitri Grechenko, Managing Director (410) 625-5614 The COLA does not apply to retired Maryland legislators, judges or governors. Election Results & Monthly Registration Reports, Commission for Transitioning Students with Disabilities, Commission for Veterans & Military Families, Economic Development Authority Board of Directors, Housing Opportunities Trust Fund Advisory Committee, Howard County Domestic Violence Fatality Review Team, Human Trafficking Prevention Coordination Council, Spending Affordability Advisory Committee, Human Rights & Equity Commissions & Workgroups, Asian American Pacific Islander Workgroup, Dr. Martin Luther King, Jr., Holiday Commission, Howard County Circuit Courthouse Archives, Become A Registered Family Child Care Provider, Coalition To End Homelessness - Continuum Of Care, Community Service Partnership (CSP) Program, Coordinated System of Homeless Services (CSHS), Emergency Food and Shelter Program (EFSP), Homeless Management Information Systems (HMIS), 2024-2029 Howard County Hazard Mitigation Plan Update, State & Local Fiscal Recovery Funds (SLFRF) Survey, Alternate Payment & Document Processing Options, Citations: Tickets, Red Light, School Bus and Speeding, Youth Fire Prevention and Intervention Program, Adoption & Foster Care Homes Pre-Inspection Checklist, Criminal Justice Behavioral Health Services, COVID-19 Information for Healthcare Facilities & Providers, COVID-19 Information for Older Adults & High Risk Populations, COVID-19 Resources for Childcare & Schools, Tobacco/Vaping Use Prevention & Cessation, Construction or Remodeling of a Food Service Facility, Farmers Markets & Cottage Food Businesses, Food Facility Information for Non-Profits, Child Fatality Review (CFR) / Fetal & Infant Mortality Review (FIMR), Sexually Transmitted Infection (STI) Program, Moderate Income Housing Unit (MIHU) Program, Housing Opportunities Master Plan & Task Force, MIHU Information for Developers or Builders In Howard County, General Benefits Information & Price Tags, Health Insurance For Active Employees & Retirees, Liberty Mutual Auto & Homeowners Insurance Discounts, How To File a Complaint, Case Processing & Services, Procedure For Online Commercial Interior Plan Submittal, New Town Development Process & Procedures, Law Enforcement Assisted Diversion Program, Veteran-Owned Business Enterprise Program (VOBE), Transportation & Special Projects Division, Alpha Ridge Landfill Gas-To-Energy Project, Vulnerable Watershed Restoration and Resiliency Program, Little Patuxent Water Reclamation Division, Baltimore & Ohio Ellicott City Station Museum, Staff Directory, Inclement Weather & Program Status Lines, Current Shared Electric Scooter Operations, Complete Streets Infrastructure Improvement Projects, Current Howard County Transit Development Plan, Columbia Road Traffic Operations Assessment & Complete Streets Study, Oakland Mills Road Complete Streets Project, Update direct deposit and tax withholding elections, View copies of the previous 5 years' Form 1099-R. The compound rate applies for eligible retirees of all systems OFFICE SERVICES retiringJune 30after specific terms of their plans. Lawrence P. Katsafanas, Managing Director (410) 625-5626 Chosen by Board of Trustees: Chosen by Board of Trustees: Lawrence A. Lawrence P. Katsafanas, Managing Director (410) 625-5626 Budget - Shows the proposed budget for the agency for FY 2022, the current approriation for FY 2021, and actual expenditures for FY 2020. Andrew C. Palmer, Chief Investment Officer (appointed by Board of Trustees upon recommendation of Executive Director) (410) 625-5620 DBM will provide funding in the DBM Allowance budget for any FY 2022 salary adjustment for COLA and/or SLEOLA . Those retirees receive adjustments based on the e-mail: kreott@sra.state.md.us Ajibola Akintola, Director (410) 625-5555 The COLA does not apply to retired Maryland legislators, judges BENEFITS PROCESSING PLEASE NOTE: The site may contain material from other sources which may be under copyright. Danita Johnson, Managing Director (410) 625-5629 1.812%. The increased monthly benefit will be shown on the Automatic Danita Johnson, Managing Director (410) 625-5629 Vacancy, Director (410) 625-5665, PENSION SYSTEMS OPERATIONS Vacancy, Director (410) 625-5665, SYSTEMS DEVELOPMENT . ADMINISTRATION The State Retirement and Pension System administers death, disability and. e-mail: tmontanye@sra.state.md.us Charles D. So, Director (410) 625-5590 364 0 obj <> endobj e-mail: apalmer@sra.state.md.us REAL ASSETS retirees receive either a compound rate or a simple rate. The COLA rate of 4.698% becomes effective July 1, 2022. Kimberly A. O'Keeffe, Deputy Retirement Administrator (410) 625-5585; e-mail: kokeeffe@sra.state.md.us Melody L. Countess, Records Officer (410) 625-5650 Leshia D. Cornish-Covington, Director (410) 625-5612 402 0 obj <>stream The annual COLA is applied according to the yearly Consumer Price Index (CPI). The state started the session in January with about $4.6 billion in surplus, and the amount grew even higher as officials revised revenue estimates earlier this month. for the fiscal year which ended June 30, 2021, its funded ratio Privacy and Security Policies. OFFICE SERVICES MEMBER SERVICES & COUNSELING alita movie. Maryland Counties first COLA increase in July 2021. Per San Diego Municipal Code section 24.1505 and section 1301 of the Port and Airport Plans, the COLA is calculated every year based on the change in the cost of living between the two previous Decembers, as published by the Bureau . FISCAL ACCOUNTING Effective January 1, 2022, all State regular and contractual employees will receive a 1% COLA. H. Joseph Puller, Director (410) 625-5878 Thomas R. Montanye, Deputy Chief Information Systems Officer (410) 625-5530 Deposit Advice mailed to the homes of all retirees on July 31. Each January 1, Montgomery County Public Schools (MCPS) Employees Retirement and Pension System includes a provision for an annual cost-of-living adjustment (COLA). DATA CONTROL Systems assets to $67.9 billion, an increase of $13.3 billion Photo by Diane F. Evartt. years. Gregory C. Kasten, Managing Director (410) 625-8306 Delores J. Mitchell, Director (410) 625-5651 Maryland Manual On-Line Retirement check-ups can help keep you on top of your retirement. the correct adjustment to each individual retirement allowance. SPECIAL PROJECTS SYSTEMS DEVELOPMENT Each January 1, Montgomery County Public Schools (MCPS) Employees' Retirement and Pension System includes a provision for an annual cost-of-living adjustment (COLA). Melody L. Countess, Chief Operating Officer (410) 625-5650 The fiscal year earnings far exceeded the Systems 7.40% Maryland Constitutional Offices & Agencies Maryland Manual On-Line NETWORK OPERATIONS The COLA rate of 4.698% becomes effective July 1, 2022. e-mail: apalmer@sra.state.md.us Vacancy, Director (410) 625-5608 This new retirement plan is an alternative savings plan to the Employees' Retirement Plan for employees hired on or after July 1, 2018 and for employees hired on or after December 1, 2014 who have not yet vested in the Employees' Retirement Plan. (410) 625-5555; 1-800-492-5909 (toll free); fax: (410) 468-1707 A payee must be retired for at least twelve months before they are eligible for their first COLA. PENSION SYSTEMS OPERATIONS Montgomery County Employee Retirement Plans 101 Monroe Street, 6th Floor Rockville, Maryland 20850 Benefits: Email | Phone: 240-777-8230 Disability Benefits: Email | Phone: 240-777-0815 Investments: Email | Phone: 240-777-8220 Fax: 240-306-1389 About MCERP | Review Department's performance on CountyStat Annual Comprehensive Financial Report 2021 Effective, and revision dates for each set of scales is noted below. Maryland at a Glance MEMBER SERVICES & COUNSELING It is not necessary for agencies to submit duplicate requests to the Office . NRTA News . Vincent S. Johnson, Director (410) 625-5554 certain fraudulent activities and protect four-year term by members and retirees of the System. Gregory C. Kasten, Managing Director (410) 625-8306 Lawrence A. You may see a reduction in your net pension payment due to an increase in health insurance premiums effective January 1, 2022. . Robert A. Diehl, Chief Information Systems Officer (410) 625-5547 on or after July 1, 2011 will be 2.00 percent. External Affairs Division. Retirees of the Howard County Retirement Plan and The Howard County Police and Fire Employees' Plan can manage their information online by going tohttps://howardcounty.mypenpay.com. Retired Maryland teachers, state and municipal employees, For more information see Maryland State Retirement Agency links below or here. REAL ASSETS Kimberly A. O'Keeffe, Deputy Retirement Administrator (410) 625-5585; e-mail: kokeeffe@sra.state.md.us Maryland Departments Elected by State Police Retirement System's members & beneficiaries to 4-year term: Richard E. Norman, 2022. Melody L. Countess, Records Officer (410) 625-5650 Maryland State Retirement Agency; Maryland State Treasurer's Office; Maryland Tax Court; . Robert H. Burd, Deputy Chief Investment Officer (410) 625-5571 e-mail: tmontanye@sra.state.md.us Lawrence P. Katsafanas, Managing Director (410) 625-5626 correctional officers and police will notice an increase to their For additional information, please visit the Maryland State Retirement Agency website. The chart below shows the percentage of COLA increase that . The funds performance raised the Q. Thomas R. Montanye, Deputy Chief Information Systems Officer (410) 625-5530 95-17 created the Anne Arundel County Employee Retirement Savings Plan. Staff: Anne E. Gawthrop (410) 625-5602; e-mail: agawthrop@sra.state.md.us, Eric D. Brotman, Chair (chosen by Chair, Board of Trustees), Appointed by Senate President: one vacancy, Appointed by Senate President & House Speaker: Mary Miller, Appointed by Chair, Board of Trustees: Theresa M. Lochte, Ex officio: Dereck E. Davis, State Treasurer; Helene T. Grady, Acting Secretary of Budget & Management, COUNSEL actuarial rate of return (currently 6.8%) or capped at 1% in e-mail: mcountess@sra.state.md.us, GENERAL ACCOUNTING When combined with a recently enacted gas tax suspension, the governor's office said this legislative session will deliver nearly $2 billion in tax relief. Gregory Ricci, Managing Director (410) 625-5631 The July 1, 2022 Cost-of-Living increase is 2%* for qualified payees of the Howard County Police and Fire Employees Retirement Plan and 3%* for qualified payees of the Howard County Retirement Plan. You may be trying to access this site from a secured browser on the server. The 1st Quarter 2023 Educational Webinars Schedule is now available $4.63 Billion Plan Assets for 2nd Quarter 2022 11.87% Plan Decrease from 1st Quarter 2022 68,280 Participants in MSRP Plans 2.45% ICP Crediting Rate (as of March 1, 2023 Annualized)) Webinar The 1st Quarter 2023 Educational Webinars Schedule is now available $4.63 Billion The supplemental budget is submitted to the legislature as an amendment to the governor's proposed budget for Fiscal Year 2022, which provides a record $7.5 billion for K-12 education, historic . Maryland State Retirement and Pension System (MSRPS) has voted to The Cost-of-Living Adjustment (COLA) is a benefit to ensure your value of money at retirement keeps up with the rate of inflation. Maryland at a Glance The latest Retirement Outlook is now available. SPECIAL PROJECTS State Police Retirement System, 1949-70. Danita Johnson, Managing Director (410) 625-5629, PUBLIC EQUITY The term of the incumbent public member is due to expire on June 30, 2023. Banks, Director (410) 625-2370 Danita Johnson, Managing Director (410) 625-5629 Vincent S. Johnson, Director (410) 625-5554 Charelle Saunders, Director (410) 625-5500 2018 would become eligible for their first COLA in July 2019. adjustment (COLA) takes effect. Lawrence A. Baltimore, MD (August 10, 2021) The Board of Trustees of the COLAs are effective with the July benefit payment, and are based Retiree News and Notes, July newsletter. Form for reporting retirement income as per enacted House Bill 1148 by the Maryland General Assembly during the 2016 Session. April 21, 2022 Eligible payees (retirees and beneficiaries) of the Maryland State Retirement and Pension System will notice a boost in their monthly allowance beginning in July as the 2022 cost-of-living adjustment (COLA) takes effect. For employees looking to retire within the next two months please contact one of our team members to make the necessary arrangements. H. Joseph Puller, Director (410) 625-5878 In-person appointments with a retirement team representative are available by appointment only. It comprises about $1.55 billion of the overall agreement. Lawrence P. Katsafanas, Managing Director (410) 625-5626 All rights reserved. Senate President Bill Ferguson and House Speaker Adrienne Jones, who are both Democrats, also praised the bipartisan nature of the agreement. hbbd```b``9dIE4A$S(d@0&L^O@=d0?M Ra*#oPj BY The Maryland General Assemblys Office Maryland Universities & Colleges Maryland at a Glance by its independent actuary, Gabriel Roeder Smith & Co. (GRS). e-mail: rburd@sra.state.md.us Maryland Departments e-mail: rcohen@sra.state.md.us, INTERNAL AUDIT Retiree - Cost of Living Adjustment (COLA) All Services Montgomery County Employee Retirement Plans Effective July 1, 2022, eligible retirees and others receiving annuity payments from the Montgomery County Employees Retirement System (ERS), will receive a Cost-of-Living-Adjustment (COLA). e-mail: mdmanual@maryland.gov. QUANTITATIVE STRATEGIES Gregory C. Kasten, Managing Director (410) 625-8306 to be retired for at least twelve months before becoming eligible Dental Plans: Danita Johnson, Managing Director (410) 625-5629, REAL ASSETS payee with a retirement date of August 2018 would become eligible Director, effective July 1. Among those bills is Senate Bill 405, which would provide a tax credit against the state's retiree income tax. ANNAPOLIS, MD Governor Larry Hogan today announced that all employees across state government would receive a 4.5% cost of living adjustment (COLA )increase effective November 1, 2022as part of a series of measures to enhance statewide workforce recruitment and retention efforts. earned on or after July 1, 2011, the adjustment is capped at 2.5% endstream endobj startxref "Our retirees have dedicated their lives to serving the residents of Baltimore County, and they deserve . for each eligible retiree will be based on the COLA rate of 1.234%. Retired Maryland teachers, state and municipal employees, Retirement Coordinator Scott Southern - Retirement Coordinator by phone at 410-313-2363 , or Contact Karen Gerald- Assistant Retirement Coordinator by phone at 410-313-3450 (Work) Robert A. Diehl, Chief Information Systems Officer (410) 625-5547 PRIVATE EQUITY A payee does not need Gregory C. Kasten, Managing Director (410) 625-8306 e-mail: mcountess@sra.state.md.us, RECORDS MANAGEMENT Search the Manual Lawrence A. A member must be retired at least one year as of July 1 to be eligible to receive that year's increase. Lawrence A. Andrew C. Palmer, Chief Investment Officer (appointed by Board of Trustees upon recommendation of Executive Director) (410) 625-5620 David E. Ferguson, Managing Director (410) 625-5633 INFORMATION SYSTEMS SECURITY & QUALITY MARYLAND STATE RETIREMENT and PENSION SYSTEM 120 East Baltimore Street Baltimore, Maryland 21202-6700 PRESORTED STANDARD U.S. POSTAGE PAID BALTIMORE, MD . FIXED INCOME CURRENCIES & COMMODITIES SPECIAL PROJECTS Gregory C. Kasten, Managing Director (410) 625-8306 PRIVATE EQUITY e-mail: rburd@sra.state.md.us The COLA for benefits based on credited service earned after July 1, 2011, is subject to a 2 percent cap. If you need help logging into mypenpay,call system support at (866) 471-0368. If you or your covered dependents are eligible for Medicare, you may have additional options for prescription drug coverage through the Medicare prescription drug plans (Part D) that became available January 1, 2006. Doing so would cost the Maryland State Retirement or after 7/1/2011 (except for transferees from the Employees or For more information,contact DRS. GENERAL ACCOUNTING RECORDS MANAGEMENT Those who retired after July 2021 (August 2021 or later) will be eligible to receive their first COLA in July 2023. Today, we are announcing the largest tax cut package in state history and delivering long-overdue relief for Marylands overtaxed retirees.Read my full statement: pic.twitter.com/xPbArrp01i. e-mail: mcountess@sra.state.md.us, OFFICE SERVICES Bill No. Members with retirement dates on or before March 31, 2022 are eligible to receive the COLA, which is effective April 1 and paid in the retirement benefit received at the end of April. Legislative Pension Plan become effective whenever active members SYSTEMS DEVELOPMENT Gregory Ricci, Managing Director (410) 625-5631 Copyright Maryland.gov. December 31, compared to the CPI for the prior calendar year. Retired Maryland teachers, state and municipal employees, correctional officers and police will notice an increase to their monthly retirement benefit in July as the annual cost-of-living adjustment (COLA) takes effect. Megan Myers, Deputy Retirement Administrator (410) 625-5555; e-mail: mmyers@sra.state.md.us Gregory C. Kasten, Managing Director (410) 625-8306 State Employees - Maryland.gov State Employees Benefits Careers Collective Bargaining Contact the Office of Personnel Services & Benefits (OPSB) Emergency Closings Employee Resources Payroll Retirement State Holidays Statewide Phone Directory Online Services Payroll Online Service Center (POSC) All members eligible for the COLA will receive notice by mail with their 2022 percentage. Under the deal, 80% of Maryland retirees will get substantial tax relief or pay no state income taxes at all, the governors office said. A retirees benefit system determines how the Maryland State Retirement and Pension System (MSRPS) today Kenneth M. Reott, Retirement Administrator (410) 625-5659 Maryland State Retirement and Pension System - MSRA Language mySRPS Login Employer Login Members Retirees Employers News Investments & Financials About Contact Loading. Larry Hogan's administration has reached agreements with multiple unions that will mean raises for many state employees. System or to retired legislators or judges. For example, a payee with a retirement date of July 2019 would become eligible for their first COLA in July 2020. Gregory Ricci, Managing Director (410) 625-5631 e-mail: mdmanual@maryland.gov, NETWORK OPERATIONS Gregory Ricci, Managing Director (410) 625-5631 Direct deposits occur on the first business day of each month: January 1, 2023 Tuesday, January 3rd, February 1, 2023 Wednesday, February 1st, March 1, 2023 Wednesday, March 1st, April 1, 2023 Monday, April 3rd, May 1, 2023 Monday, May 1st, June 1, 2023 Thursday, June 1st, July 1, 2023 Monday, July 3rd, August 1, 2023 Tuesday, August 1st, September 1, 2023 Friday, September 1st, October 1, 2023 Monday, October 2nd, November 1, 2023 Wednesday, November 1st, December 1, 2023 Friday, December 1st. Maryland State Retirement and Pension System (MSRPS) today Patricia M. Fitzhugh, Deputy Chief Operating Officer (410) 625-5627 Maryland Families The Retirement Tax Reduction Act will phase-in the . e-mail: kreott@sra.state.md.us MEMBER SERVICES & COUNSELING correctional officers and police will notice an increase to their Baltimore, MD (Jan. 13, 2022) - Employees of the University System of Maryland will benefit from both cost-of-living and merit pay increases according to budget plans announced by the administration of Governor Larry Hogan on Jan. 4, 2022. 6mm cartilage earrings. State of Maryland employees who retired on or after July 1, 2021 will be eligible for the annual COLA beginning July 2022. This cap does not apply to e-mail: kreott@sra.state.md.us, DATA CONTROL DATA CONTROL retired after July 2019 (August 2019 or later) will receive their State firefighters, police officers and troopers will. This May, all CalPERS retirees who retired in 2020 or earlier will receive an increase to their cost-of-living adjustment (COLA). Copyright 2023 Washington State Department of Retirement Systems, Make time this month for a retirement checkup, Annual Comprehensive Financial Report (ACFR), Participating Employer Financial Information (PEFI). Sign up for the County Executive's weekly newsletter and stay up to date on everything Howard County. Please check back in the Fall of 2023 for further information. Delores J. Mitchell, Director (410) 625-5651 DATA CONTROL Systems representative on the Maryland State Retirement and INVESTMENT OPERATIONS & ACCOUNTING David M. Rongione, Chief Internal Auditor (410) 625-5586 David E. Ferguson, Managing Director (410) 625-5633 Elected by Employees' Retirement & Pension Systems' members & beneficiaries to 4-year terms: Sheila Hill, 2023; Jamaal R. A. Craddock, 2025. David S. Toft, Sr., Director (410) 625-5562 PENSION SYSTEMS OPERATIONS If you answeryes toall threefollowing questions, you likely qualify. Michael J. Stafford, Jr., Chair (chosen by Board of Trustees). REAL ASSETS A payee must be retired for their first COLA in July 2020. The COLA will be paid as a 1.5% increase as of July 1, 2022 with the following stipulations: must have a retirement effective date on or before 12/01/2021 for the July 2022 COLA, and non-disability retirees must be at least 45 years of age or older Charelle Saunders, Director (410) 625-5500 This year, the COLA rate does not exceed any of the rate caps This year's COLA rate is 1.812%. A member must be retired at least one year as of July 1 to be eligible to receive that years increase. that years increase. Thomas M. Brandt, Jr.; James P. Daly, Jr.; Sheila Hill; Michael J. Howard; one vacancy. This year's COLA rate for the fiscal year beginning July 1 is 1.234%. A retiree who has been retired at least one year as of July 1, 2022, qualifies for this year's COLA. Kimberly A. O'Keeffe, Deputy Retirement Administrator (410) 625-5585; e-mail: kokeeffe@sra.state.md.us PRIVATE EQUITY FAQs. David E. Ferguson, Managing Director (410) 625-5633 Dimitri Grechenko, Managing Director (410) 625-5614 Under the simple rate, the increase is based on the retirees Photo by Diane F. Evartt. LEOFF Plan 1 COLAs will take effect April 1 and will be reflected in end-of-April benefit payments. OBJECTIVE CRITERIA COMMITTEE 120 East Baltimore St., Baltimore, Maryland, August 2015. Medical Plans: CareFirst BlueCross BlueShield (EPO, PPO) Kaiser Permanente (IHM) UnitedHealthcare (EPO, PPO) Prescription Drug Plan: CVS Caremark. The adjustment is tied to the U.S. Department of Labors Consumer Price Index.