Discussion and possible action to approve a Consumer Price Index (CPI) and Cost of Living (COLA) adjustment for current retirees. The new Texas County & District Retirement System (TCDRS) Plan Agreement for Year 2023 will have a retirement plan rate of 13% that was approved by Commissioners Court on May 9, 2022.
Issue: The Plan Agreement that was approved on May 9, 2022, did not include a Cost of Living (COLA) adjustment for retirees.
Solution: The Cost of Living adjustment will help all retirees restore their purchase power.
Result: Approval of this revision will be within TCDRS timeline.