What is the difference between Plan E COLA and Plan E Elective COLA?
COLA granted to Plan E members by the BOR (sometimes referred to as Automatic COLA) applies to service credit earned on or after June 4, 2002.When the BOR determines a COLA adjustment is warranted, COLA is applied automatically; it is not something you purchase. Elective COLA is a purchasable cost-of-living benefit that applies to service credit earned under Plan E prior to June 4, 2002. Purchasing Plan E Elective COLA makes a greater portion of your retirement allowance eligible for a cost of-living adjustment.
