Annual Increases

for Retirees in the Original ECO Plan

Tier 1 Annual Pension Increases

Your pension is increased by 3% of your original pension amount on January 1 of each year. You can find the amount of your increase on your Certificate of Benefits or in your Annual Statement of Benefits that you receive every November.

Your annual increase amount does not change. The amount is always 3% of your original pension amount, not 3% of your current pension payment. For example:

$500.00 monthly pension effective January 1, 2015
Monthly amount in 2015 $500.00
Annual increase amount is calculated (3% of original pension amount)
$500.00 x 3% = $15.00
Every future annual increase will be $15.00 
 Year  Monthly Amount
 2016 $515.00
 2017 $530.00
2018 $545.00
2019 $560.00
2020 $575.00