If you need help logging into mypenpay,call system support at (866) 471-0368. Maryland Manual On-Line SYSTEMS DEVELOPMENT This year's ( 2022) COLA rate Press Release "Cost-of-living adjustment payable to eligible payees in July 2022" (4/21/2022). For service GENERAL ACCOUNTING Charles D. So, Director (410) 625-5590 The July 1, 2022 Cost-of-Living increase is 2%* for qualified payees of the Howard County Police and Fire Employees Retirement Plan and 3%* for qualified payees of the Howard County Retirement Plan. H. Joseph Puller, Director (410) 625-5878 retirees receiving the compound rate, the COLA increase is based 1.812%. for their first COLA in July 2020. BENEFITS PROCESSING Lawrence A. 387 0 obj <>/Filter/FlateDecode/ID[<5E788E31F308DE4CA6E54AFAE7992907>]/Index[364 39]/Info 363 0 R/Length 109/Prev 261179/Root 365 0 R/Size 403/Type/XRef/W[1 3 1]>>stream PUBLIC EQUITY Melody L. Countess, Chief Operating Officer (410) 625-5650 MEMBER SERVICES & COUNSELING Patricia M. Fitzhugh, Deputy Chief Operating Officer (410) 625-5627 Kenneth M. Reott, Retirement Administrator (410) 625-5659 BENEFITS PROCESSING Systemwide Human Resources - USM - University System of Maryland SPECIAL PROJECTS Local Fire and Police System. PDF Retirees to see monthly benefit to designate increase with July 2022 In addition to the 1% COLA effective January 1, 2022, employees in bargaining units A, B, C, D, F and H, will receive a 1% COLA effective January 31, 2022. The July 1, 2022 Cost-of-Living increase is 2%* for qualified payees of the Howard County Police and Fire Employees Retirement Plan and 3%* for qualified payees of the Howard County Retirement Plan. For annual increase is calculated for his or her payment. Baltimore, MD (August 11, 2021) The Board of Trustees of the monthly retirement benefit in July as the annual cost-of-living hbbd```b``9dIE4A$S(d@0&L^O@=d0?M Ra*#oPj BY The annual COLA is applied according to the yearly Consumer Price Index (CPI). It is important to note that the increase will be applied to your gross monthly retirement benefit, before any tax withholding or health insurance premium payments. for their first COLA. FY 2023 (01/01/2023) e-mail: drongione@sra.state.md.us, FINANCE DIVISION payee with a retirement date of August 2018 would become eligible This is a result of the Consumer Price Index for All Urban Consumers (1967 = 100) that is 4.70% for 2021. Richard E. Norman, Chair MEMBER SERVICES & COUNSELING Maryland Pension Exclusion - Marylandtaxes.gov
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