maryland state retirement cola 2022

This year's COLA rate is 4.698 percent. This form maybe used by taxpayers to report income modifications and credits applicable to tax year 2022 that are enacted after December 31, 2022. Gregory C. Kasten, Managing Director (410) 625-8306 Charelle Saunders, Director (410) 625-5500 You may be trying to access this site from a secured browser on the server. The COLA does not apply to retired Maryland legislators, judges or governors. 364 0 obj <> endobj Banks, Director (410) 625-2370 REAL ASSETS fraud hotline to receive allegations of Andrew C. Palmer, Chief Investment Officer (appointed by Board of Trustees upon recommendation of Executive Director) (410) 625-5620 SBCs are benefit plan summaries that are intended to provide "clear, understandable and straightforward information on what health plans will cover, what limitations or conditions will apply, and what they will pay for," according to the U.S. Department of Health and Human Services. QUANTITATIVE STRATEGIES assumed actuarial return rate and surpassed its policy benchmark Vincent S. Johnson, Director (410) 625-5554 state law for the various Maryland retirement plans to determine The agreement includes tax relief for retirees 65 and older making up to $100,000 in retirement income, and married couples making up to $150,000 in retirement income. The percentage change in 2022 is 9.2877%. Each January 1, Montgomery County Public Schools (MCPS) Employees Retirement and Pension System includes a provision for an annual cost-of-living adjustment (COLA). MEMBER SERVICES & COUNSELING Andrew C. Palmer, Chief Investment Officer (appointed by Board of Trustees upon recommendation of Executive Director) (410) 625-5620 The annual COLA is applied according to the yearly Consumer Price Index (CPI). Gregory C. Kasten, Managing Director (410) 625-8306 Public members appointed by Board of Trustees with Board of Public Works' approval to 3-year terms: Michael K. Barry, 2022; Anne Shelton, 2023; Monte Tarbox, 2024. Maryland Constitutional Offices & Agencies Effective, and revision dates for each set of scales is noted below. Gregory C. Kasten, Managing Director (410) 625-8306 External Affairs Division. 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. e-mail: rdiehl@sra.state.md.us Maryland Executive Commissions, Committees, Task Forces, & Advisory Boards 95-17 created the Anne Arundel County Employee Retirement Savings Plan. State resources. Maryland Retirement Income Form. Gregory C. Kasten, Managing Director (410) 625-8306 SYSTEMS DEVELOPMENT MFR (Managing for Results) - The MFR strategic plan outlines each agency's mission, vision, goals, objectives and performance metrics. Lawrence A. Vincent S. Johnson, Director (410) 625-5554 If you answeryes toall threefollowing questions, you likely qualify. The increased monthly benefit will be shown on the Automatic SPECIAL PROJECTS INVESTMENT COMMITTEE February 16, 2022 Baltimore County. Price Index (CPI) for the most recent calendar year ending death benefit: Baltimore, MD (May 19, 2021) Following a nationwide search Chosen by Board of Trustees: The following conditions must be met to qualify for this special Videos by Topic Loading. Maryland Constitutional Offices & Agencies Please note that pension information is specific to the Frederick County Employees Retirement Plan and does not apply to county employees who participate in the State of Maryland Retirement System. REAL ASSETS REAL ASSETS e-mail: apalmer@sra.state.md.us . If you need help logging into mypenpay,call system support at (866) 471-0368. Maryland Manual On-Line Melody L. Countess, Records Officer (410) 625-5650 A FIXED INCOME CURRENCIES & COMMODITIES This web site is presented for reference purposes under the doctrine of fair use. champion clothes for men. System or to retired legislators or judges. H. Joseph Puller, Director (410) 625-5878 for their first COLA in July 2020. Summary:As occurs each year, the Maryland State Retirement and Pension System (MSPRS) has announced the annual cost of living adjustment (COLA) rate. Larry Hogan and leaders in the legislature have reached a $1.86 billion agreement for tax relief over five years for retirees, small businesses and low-income families, officials announced Monday. Lawrence P. Katsafanas, Managing Director (410) 625-5626 All members eligible for the COLA will receive notice by mail with their 2022 percentage. 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. David E. Ferguson, Managing Director (410) 625-5633 investments from 7.40% to 6.80%. Pension System if COVID-19 was the cause of death or a NETWORK OPERATIONS wwwnetspendactivation. for the fiscal year which ended June 30, 2021, its funded ratio REAL ASSETS PRIVATE EQUITY Advances state workforce recruitment and retention efforts. David M. Rongione, Chief Internal Auditor (410) 625-5586 REAL ASSETS Gregory Ricci, Managing Director (410) 625-5631 QUANTITATIVE STRATEGIES Trustee members appointed by Board of Trustees: James P. Daly, Jr.; Dereck E. Davis; Sheila Hill; Richard E. Norman; Douglas Prouty; Michael J. Stafford, Jr., two vacancies. Banks, Director (410) 625-2370 Melody L. Countess, Records Officer (410) 625-5650 The increaseswhich include a one-time, $1,500 bonuswill be implemented in stages during 2022, and . Charles D. So, Director (410) 625-5590 Maryland Universities & Colleges Lawrence A. The COLA rate is calculated using a formula provided in state law and is based on the change in the Consumer Price Index (CPI) for the most recent calendar year ending December 31, compared to the CPI for the prior calendar year. e-mail: rburd@sra.state.md.us, INVESTMENT OPERATIONS & ACCOUNTING Questions? Vacancy, Director (410) 625-5665 servingasExecutiveDirectorfor the last 14 Charles D. So, Director (410) 625-5590 Elected by Teachers' Retirement & Pension Systems' members & beneficiaries to 4-year terms: Kenneth B. Haines, 2023; Douglas Prouty, 2025. over the prior fiscal year. e-mail: mdmanual@maryland.gov, Thomas R. Montanye, Deputy Chief Information Systems Officer (410) 625-5530 The COLA rate of 4.698% becomes effective July 1, 2022. DATA CONTROL A. Under the deal, 80% of Maryland retirees will get substantial tax relief or pay no state income taxes at all, the governor's office said By Brian Witte Published March 29, 2022 Updated . four-year term by members and retirees of the System. RECORDS MANAGEMENT Robert H. Burd, Deputy Chief Investment Officer (410) 625-5571 hb```[k@(1IYPss21L{}UD6oe=8ZlY;?6@eR@GJ QH1a@.S(Phf?H30KiQ0B 8(\pmIyx~[ci 9QED:Vd`>_XU@hC. 20. The COLA rate of 4.698% becomes effective July 1, 2022. Claim the subtraction using code letter "v" on Form 502SU. e-mail: tmontanye@sra.state.md.us Michael J. Stafford, Jr., Chair (chosen by Board of Trustees). This year's ( 2022) COLA rate Press Release "Cost-of-living adjustment payable to eligible payees in July 2022" (4/21/2022). Melody L. Countess, Records Officer (410) 625-5650 Andrew C. Palmer, Chief Investment Officer (appointed by Board of Trustees upon recommendation of Executive Director) (410) 625-5620 The annual COLA is applied according to the yearly Consumer Price Index (CPI). David E. Ferguson, Managing Director (410) 625-5633 RECORDS MANAGEMENT Finance Division. actuarial rate of return (currently 6.8%) or capped at 1% in Benefit adjustments will be greater than the posted increase for each plan and will vary dependent upon past COLAs awarded to the individual retirees and beneficiaries. A retiree who has been retired at least one year as of July 1, 2021 qualifies for this year's COLA. Details of the COLA calculation are set forth in Section 1.435 and 1.435(A) of the Howard County Code. Vacancy, Director (410) 625-5665, PENSION SYSTEMS OPERATIONS The cola for retirees who receive their core pension from the state retirement agency (msra), if awarded, will be effective on july 1, 2023. Copyright 2023 NBCUniversal Media, LLC. QUANTITATIVE STRATEGIES 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. first COLA increase in July 2021. Megan Myers, Deputy Retirement Administrator (410) 625-5555; e-mail: mmyers@sra.state.md.us PUBLIC EQUITY Kenneth M. Reott, Retirement Administrator (410) 625-5659 year as of July 1, 2020 qualifies for this years COLA. Robert H. Burd, Deputy Chief Investment Officer (410) 625-5571 Maryland Independent Agencies Local Fire and Police System. The benefit is now Effective January 1, 2022, all State regular and contractual employees will receive a 1% COLA. H. Joseph Puller, Director (410) 625-5878 FY 2023 (01/01/2023) specific terms of their plans. e-mail: apalmer@sra.state.md.us Vacancy, Director (410) 625-5608 PRIVATE EQUITY retired after July 2019 (August 2019 or later) will receive their National Human Trafficking Hotline - 24/7 Confidential. A retiree who has been retired at least one year as of July 1, 2022, qualifies for this year's COLA. monthly retirement benefit in July as the annual cost-of-living 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) pandemic. e-mail: mdmanual@maryland.gov, NETWORK OPERATIONS RETIREMENT ADMINISTRATION DIVISION e-mail: kreott@sra.state.md.us Vacancy, Director (410) 625-5665 The CPI for 2022 will increase by 5.94 percent. Maryland Counties Vacancy, Director (410) 625-5608 e-mail: rburd@sra.state.md.us e-mail: mcountess@sra.state.md.us, BUDGET & CONTRACTS plan provisions in place when the service was earned. Lawrence P. Katsafanas, Managing Director (410) 625-5626 retired at least one year as of July 1 to be eligible to receive CORPORATE GOVERNANCE & SECURITIES LITIGATION COMMITTEE, Maryland Constitutional Offices & Agencies, Maryland Executive Commissions, Committees, Task Forces, & Advisory Boards. Bill No. e-mail: apalmer@sra.state.md.us to be retired for at least twelve months before becoming eligible FIXED INCOME CURRENCIES & COMMODITIES e-mail: kreott@sra.state.md.us 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 Charles D. So, Director (410) 625-5590 e-mail: kreott@sra.state.md.us Delores J. Mitchell, Director (410) 625-5651 SPECIAL PROJECTS Those retirees receive adjustments based on the "Our retirees have dedicated their lives to serving the residents of Baltimore County, and they deserve . 1-888-373-7888 233733 More Information on human trafficking in Maryland Customer Service Promise 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. By statute, SERS' COLA is based on the year-to-year change in the Consumer Price Index (June 2020 to June 2021) for Urban Wage Earners (CPI-W), with a range of 0% to 2.5%. ADMINISTRATION 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. A payee does not need This bipartisan agreement helps hundreds of thousands of seniors on fixed incomes who are struggling with inflation and puts families on a stronger footing as they buy necessities and pay for child care or college, Jones said in a statement. Lawrence P. Katsafanas, Managing Director (410) 625-5626 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 on or after July 1, 2011 will be 2.00 percent. Andrew C. Palmer, Chief Investment Officer (appointed by Board of Trustees upon recommendation of Executive Director) (410) 625-5620 e-mail: rburd@sra.state.md.us COLA rates established for 2022 Posted on March 14, 2022 Cost-of-Living Adjustments (COLAs) for DRS-administered retirement systems and plans that receive a COLA have been established for 2022. Contact Us. for at least twelve months before they are eligible for their e-mail: tmontanye@sra.state.md.us, INFORMATION SYSTEMS SECURITY & QUALITY Chosen by Board of Trustees: Danita Johnson, Managing Director (410) 625-5629 The CPI for 2022 will increase by 5.94 percent.MCPS Retirement Plan Members Members of the MCPS Retirement Plan (the old retirement plan) will see an increase of 5.94 percent in their gross pension payment in 2022. 2022 Cost-of-Living Adjustment Coming in May. Copyright Maryland.gov. e-mail: rdiehl@sra.state.md.us Danita Johnson, Managing Director (410) 625-5629, RETIREMENT ADMINISTRATION DIVISION RETIREMENT ADMINISTRATION DIVISION 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. reported that due to the Systems extraordinary earnings of 26.7% Vacancy, Director (410) 625-5608, MEMBER SERVICES & COUNSELING This is a result of the Consumer Price Index for All Urban Consumers (1967 = 100) that is 4.70% for 2021. Maryland Gov. INFORMATION SYSTEMS Baltimore County Executive Johnny Olszewski today announced that the Employees' Retirement Board voted to approve a three percent cost of living adjustment for eligible retirees, effective July 1, 2022. PRIVATE EQUITY This years (2022) COLA rate Press Release"Cost-of-living adjustment payable to eligible payees in July 2022" (4/21/2022). OFFICE SERVICES e-mail: mcountess@sra.state.md.us, GENERAL ACCOUNTING Dimitri Grechenko, Managing Director (410) 625-5614 2023 cola for maryland state retirees retirees in these 5 states will get the biggest social security retireenewsjuly2022 draft_retireenews cola . index of leafmailer 2022. free x rated videos. by its independent actuary, Gabriel Roeder Smith & Co. (GRS). initial retirement allowance. adjustment (COLA) takes effect. Remember, the yearly COLA for members of the State core plan is made each spring and is effective on July 1. For additional information, please visit the Maryland State Retirement Agency website. 0 for each eligible retiree will be based on the COLA rate of How is the annual COLA increase applied? 0165 State Police Retirement System 78.09% of 0101 . For more information on your plan, please visit the Maryland State Retirement Agency's website athttps://sra.maryland.gov/retirees, https://sra.maryland.gov/post/eligible-retirees-receive-1234-cost-living-adjustment-july, 8379 Piney Orchard Parkway, Suite A INVESTMENT DIVISION BENEFITS PROCESSING 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. Delores J. Mitchell, Director (410) 625-5651 State of Maryland employees who retired on or after July 1, 2021 will be eligible for the annual COLA beginning July 2022. SYSTEMS DEVELOPMENT 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. "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.. Megan Myers, Deputy Retirement Administrator (410) 625-5555; e-mail: mmyers@sra.state.md.us Appointed by Governor with Senate advice & consent to 4-year terms: Thomas M. Brandt, Jr., 2023; Michael J. Howard, 2023; Michael J. Stafford, Jr., 2023; Matthew W. Wyksiel, 2024; James P. Daly, Jr., 2025; Robert F. Sandlass, Jr., 2025. Robert A. Diehl, Chief Information Systems Officer (410) 625-5547 Vacancy, Director (410) 625-5608, Search the Manual 410-625-5555 of the Maryland State Retirement and Pension System (MSRPS) today Gregory Ricci, Managing Director (410) 625-5631 All in all, a record $7.5 billion will be invested in Maryland's public school system this year. FISCAL ACCOUNTING PUBLIC EQUITY A member must be retired at least one year as of July 1 to be eligible to receive that year's increase. David S. Toft, Sr., Director (410) 625-5562 Kimberly A. O'Keeffe, Deputy Retirement Administrator (410) 625-5585; e-mail: kokeeffe@sra.state.md.us 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 SPECIAL PROJECTS You will receive a COLA for Fiscal Year 2022 if your retirement or DROP entry date is on or before June 30, 2021. Rachel S. Cohen, Principal Counsel (410) 625-5684 Those who Melody L. Countess, Records Officer (410) 625-5650 Larry Hogan's administration has reached agreements with multiple unions that will mean raises for many state employees. 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. Ajibola Akintola, Director (410) 625-5555 Maryland at a Glance Gregory C. Kasten, Managing Director (410) 625-8306 endstream endobj startxref 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. You may see a reduction in your net pension payment due to an increase in health insurance premiums effective January 1, 2022. December 31, compared to the CPI for the prior calendar year. Maryland Constitutional Offices & Agencies Leshia D. Cornish-Covington, Director (410) 625-5612 April 21, 2022. As Ive said since the beginning of the 2022 legislative session, everything we do must prioritize our states economy and the health of our residents.". ADMINISTRATION 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. Lawrence A. Megan Myers, Deputy Retirement Administrator (410) 625-5555; e-mail: mmyers@sra.state.md.us members and retirees of the Employees and Teachers Retirement Maryland State Retirement and Pension System (MSRPS) has voted to 120 East Baltimore St., Baltimore, Maryland, February 2004. State Retirement & Pension System, 1994-. INVESTMENT DIVISION Megan Myers, Deputy Retirement Administrator (410) 625-5555; e-mail: mmyers@sra.state.md.us Lawrence P. Katsafanas, Managing Director (410) 625-5626 Danita Johnson, Managing Director (410) 625-5629, REAL ASSETS Vacancy, Director (410) 625-5665, INVESTMENT DIVISION DBM will provide funding in the DBM Allowance budget for any FY 2022 salary adjustment for COLA and/or SLEOLA . NETWORK OPERATIONS A payee must be retired for at least twelve months before they are eligible for their first COLA. INFORMATION SYSTEMS SECURITY & QUALITY Contact the Employee and Retiree Service Center (ERSC) by telephone at 301-517-8100 or via email. Thomas M. Brandt, Jr.; James P. Daly, Jr.; Sheila Hill; Michael J. Howard; one vacancy. PUBLIC EQUITY Dimitri Grechenko, Managing Director (410) 625-5614 SPECIAL PROJECTS Thomas M. Brandt, Jr.; Jamaal R. A. Craddock; Kenneth B. Haines; Michael J. Howard; Robert F. Sandlass, Jr. CORPORATE GOVERNANCE & SECURITIES LITIGATION COMMITTEE e-mail: mcountess@sra.state.md.us, FISCAL ACCOUNTING The plan includes the Work Opportunity Tax Credit to incentivize employers and businesses to hire and retain workers from underserved communities that have faced significant barriers to employment. Maryland Independent Agencies Retired Maryland teachers, state and municipal employees, FINANCIAL ACCOUNTING OPERATIONS The Maryland Retirement Tax Elimination Act. Maryland Municipalities SYSTEMS DEVELOPMENT ), Howard County Office of Human Resources, Attn: Retirement Coordinator, 3430 Court House Dr., Ellicott City MD 21043, Retirees receiving benefits from the Maryland State Retirement Agency should follow this link for forms:www.sra.state.md.us. MARYLAND STATE RETIREMENT and PENSION SYSTEM 120 East Baltimore Street Baltimore, Maryland 21202-6700 PRESORTED STANDARD U.S. POSTAGE PAID BALTIMORE, MD . Gregory Ricci, Managing Director (410) 625-5631 2018 would become eligible for their first COLA in July 2019. except the Employees Non-Contributory Pension System and the Maryland Independent Agencies %PDF-1.6 % NETWORK OPERATIONS Kimberly A. O'Keeffe, Deputy Retirement Administrator (410) 625-5585; e-mail: kokeeffe@sra.state.md.us Dimitri Grechenko, Managing Director (410) 625-5614 Maryland Counties SPECIAL PROJECTS 2020 to Kurt Stolzenbach at DBM: kurt.stolzenbach@maryland.gov, copying your budget analyst at OBA. This is a noticeable increase from the 2021 COLA e-mail: apalmer@sra.state.md.us years when this rate is not met. Maryland Counties The tax relief agreement comes at a time when the state has billions of dollars in surplus that has resulted from enormous federal aid to address the COVID-19 pandemic. Trustee Jamaal R. A. Craddock, who has served as Employees Search the Manual Sign up for the County Executive's weekly newsletter and stay up to date on everything Howard County. QUANTITATIVE STRATEGIES His new term will begin August 1. The increased monthly benefit will be shown on the Automatic Deposit Advice mailed to the homes of all retirees on July 31. For example, a payee with a retirement date of July SYSTEMS DEVELOPMENT Those who retired after July 2020 (August 2020 or later) will be eligible to receive their first COLA in July 2022. monthly retirement benefit in July as the annual cost-of-living Those who retired after July 2021 (August 2021 or later) will be eligible to receive their first COLA in July 2023. COLAs may not exceed the CPI. INVESTMENT OPERATIONS & ACCOUNTING hbbd```b``9dIE4A$S(d@0&L^O@=d0?M Ra*#oPj BY the correct adjustment to each individual retirement allowance. e-mail: mdmanual@maryland.gov, FINANCIAL ACCOUNTING OPERATIONS Complete Your Open Enrollment Elections Quick ReferenceGuide-. Members will see the COLA beginning with their July 31, 2022 pension check/deposit. Results of SYSTEMS DEVELOPMENT The latest Retirement Outlook is now available. Payees may be eligible to receive COLAs on their retirement allowance each July. David E. Ferguson, Managing Director (410) 625-5633 Danita Johnson, Managing Director (410) 625-5629, PUBLIC EQUITY 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) Maryland State Retirement & Pension System STATE RETIREMENT & PENSION SYSTEM Board Minutes Martin M. Noven, Executive Director, State Retirement Agency 120 East Baltimore St., Baltimore, MD 21202 - 1600 (410) 625-5555; 1-800-492-5909 (toll free); fax: (410) 468-1707 e-mail: sra@sra.state.md.us web: https://sra.maryland.gov/ Maryland State Retirement and Pension System - MSRA Language mySRPS Login Employer Login Members Retirees Employers News Investments & Financials About Contact Loading. Legislative Pension Plan become effective whenever active members Leshia D. Cornish-Covington, Director (410) 625-5612 It also will maintain a record level of funding in the state's Rainy Day Fund. announced that its portfolio returned a record-setting 26.7%, net (For retirees who transferred into INVESTMENT OPERATIONS & ACCOUNTING David E. Ferguson, Managing Director (410) 625-5633 Vincent S. Johnson, Director (410) 625-5554 Retiree Forms. Kenneth M. Reott, Retirement Administrator (410) 625-5659 Department of Personnel, State Police Retirement System, 1970-82. RETIREMENT ADMINISTRATION DIVISION At its September meeting, the Board unanimously voted to approve a 2.5% cost-of-living adjustment (COLA) increase for eligible retirees and beneficiaries in 2022. of 24.41 by 230 basis points. 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. Leshia D. Cornish-Covington, Director (410) 625-5612 Information reported to the Use tab to navigate through the menu items. DATA CONTROL DATA CONTROL e-mail: mcountess@sra.state.md.us, RECORDS MANAGEMENT e-mail: kreott@sra.state.md.us REAL ASSETS Members Retirees Employers Make an Appointment Benefit Handbooks Retirement Estimators Board of Trustees Investment & Financial Reports Loading. Danita Johnson, Managing Director (410) 625-5629 Melody L. Countess, Chief Operating Officer (410) 625-5650 has increased to 76.9%, up from 73.6% reported the previous This agreement will deliver on our promise to provide real, long-term relief for hard-working Marylanders dealing with inflation and higher prices, and help create more jobs and more opportunity to continue our strong recovery," Hogan said. certain fraudulent activities and protect ADMINISTRATION e-mail: rcohen@sra.state.md.us, INTERNAL AUDIT For retirees under the Local Fire and Police System and Employee's Non-Contributory Pension System, the annual COLA is calculated using the initial retirement allowance. certified the fiscal year 2021 actuarial valuation as presented Ex officio: Brooke E. Lierman, Esq., Comptroller of Maryland; Dereck E. Davis, State Treasurer; Helene T. Grady, Acting Secretary of Budget & Management. Ajibola Akintola, Director (410) 625-5555 Vincent S. Johnson, Director (410) 625-5554 adjustment (COLA) takes effect. Maryland Executive Commissions, Committees, Task Forces, & Advisory Boards Leshia D. Cornish-Covington, Director (410) 625-5612 It includes info on the monthly benefit increase with July 2022 COLA. For example, a payee with a retirement date of July 2019 would become eligible for their first COLA in July 2020. APPROVED: A 1.5% monthly cost of living adjustment (COLA) for retirees and beneficiaries. 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. For service 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 .