Each year, the Office of the State Actuary calculates the LEOFF Plan 2 Cost-of-Living-Adjustments (COLA) at the request of the Department of Retirement Systems. Here are the 2023 results:
COLAs as of July 1, 2023
| Retirement Dates | Adjustments |
|---|---|
| July 2, 2022 to July 1, 2023 | 0.00% |
| Prior to July 2, 2022 | 3.00% |
*For additional information, read the OSA's full report.
The COLA in LEOFF 2 is based on changes in the Consumer Price Index (CPI) applicable to the plan. For your reference, we enclosed the relevant CPI data at the end of this letter. We obtained this data from the U.S. Department of Labor, Bureau of Labor Statistics (BLS) website.
Remember, because of COLA banking, your retirement date has little to no impact on your benefit. Watch this video for how it works: How does my LEOFF 2 retirement date impact cost of living adjustments (COLA)?
More information can be found on the DRS COLA FAQ page.