[UCRDBR] 2023 Annual COLA Information for UCRP and UC-PERS Plus 5 Plan

[Departmental Benefits Representatives]

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March 21, 2023

To:
Department Benefits Representatives
From:
Central HR Benefits Office on behalf of UC Office of the President
Re:
2023 Annual COLA Information for UCRP and UC-PERS Plus 5 Plan




UC Office of the President has announced the following Cost of Living and Inactive Cost of Living Adjustments for 2023.

For the following retirement or disability dates, the July 1, 2023 cost-of-living adjustment (COLA) for UCRP and UC-PERS Plus 5 Plan annuitants or benefit recipients will be:

Retirement or Disability Date
UCRP COLA
UC-PERS Plus 5 COLA
On or before July 1, 2022
2.90%
2.90%


For the following separation dates, the July 1, 2023 Inactive COLA on the HAPC for UCRP inactive members with 1976 Tier service credit, Safety or Tier Two members will be:

Separation Date
UCRP COLA
On or before June 29, 2023
2.00%

Beginning April 1, 2023, the updated 2023 Inactive COLA will be used in the calculations processed in UCRAYS for retirement elections for July 1, 2023 and later.
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