What is the Alaska Cost-of-Living Allowance (COLA)?
If you reside in Alaska after you retire, you may receive COLA in addition to your regular monthly benefit. COLA is equal to 10% of your base benefit. “Residing in Alaska” means domiciled and physically present in Alaska. A domicile is that place where you have your true, fixed and permanent home and principal establishment and to which, whenever absent, you intend to return. An absence which exceeds 90 days constitutes a break in residency for COLA purposes. The following are eligible to receive COLA: • Members who were first hired under the TRS before July 1, 1990, and their survivors; • members who were hired under the TRS after June 30, 1990, and their survivors if they are at least age 65; and • all disabled members.
