Posted on 11/09/2022
Social Security has announced that they will be granting a cost of living increase of 8.7% for 2023. The board has voted to approve the following cost of living increase for January 2023. Based on the statutes governing Cost of Living Adjustments (COLA) for CTRB members, the Connecticut Teachers’ Retirement Board will be granting COLA as follows.
| COLA Group | January COLA Increase |
| Members retired prior to September 1992 | 5% |
| Members retired on or after September 1, 1992 and joined the system prior to July 1, 2007 | 1.5% |
| Members retired on or after September 1, 1992 and joined the system on or after July 1, 2007 | 1% |
For more information on the current COLA please visit the Cost of Living Adjustments page.
Retirees that chose to retiree between November and April should expect to see the COLA in their January payment, which will be received on January 31st 2023.