Update on 2020 COLA percentage for Plans 2 and 3

Plan 2/3 WSSRA Retirees—

In the email that was sent to the membership Friday, April 3 following Governor Inslee’s signing of the Plan 1 COLA bill, it was noted that Plan 2/3 retirees can expect a 2.2% COLA increase in July.  That figure is not accurate. While 2.2% is the Greater Seattle area Consumer Price Index increase for 2019, the DRS Plan 2/3 COLA formula derives different percentages depending on an individual’s retirement date.  Please see https://www.drs.wa.gov/retirees/information/cola/ for details. Sorry for the confusion.