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EFFECTIVE JULY 1, 2023: Cost of Living Adjustment (COLA): a. Salary Plan Adjustments: As a result of the Cost of Living Adjustment (COLA), the minimum and maximum rates of the EX, MP, MD, SE, HE, and DM range pay plans, and the rates in the CJ- EX pay plan shall be increased by 2.5% effective July 1, 2023.
This May, all CalPERS retirees who retired in 2021 or earlier will receive an increase to their cost-of-living adjustment (COLA).
The Special Death Benefit is a monthly allowance to an eligible surviving spouse, eligible registered domestic partner, or unmarried child under age 22 equal to half of the members average monthly salary for the last 12 or 36 months, regardless of the members age or years of service credit.
HBD-12 Health Benefits Plan Enrollment for Active Employees (PDF) For active employees, to enroll, change, or cancel enrollment in a CalPERS health plan. HBD-30 Health Benefits Plan Enrollment for Retirees/Survivors (PDF) For retirees or survivors, to enroll, change, or cancel enrollment in a CalPERS health plan.
There will be an 8.7% Cost of Living Increase (COLA) in 2023. Aged or Disabled: ** $1,133.73 $ 1,927.62 Blind: ** $1,211.00 $ 2,134.14 One is Blind, One is Aged or Disabled ** $ 2,055.47 ** Rates noted are for independent living only.

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It is based on the percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the third quarter of the last year a COLA was determined to the third quarter of the current year. If there is no increase, there can be no COLA.
The contract includes a $1,500 COLA bonus scheduled for September 2023, and a substantial 6.55% COLA scheduled for December 2023. Additionally, a 6.5% COLA has been secured for early 2025, ensuring that state workers will continue to see improvements in their compensation well into the future.
CalPERS offers a defined benefit plan where retirement benefits are based on a formula, rather than contributions and earnings to a savings plan. Retirement benefits are calculated based on a members years of service credit, age at retirement, and final compensation (average salary for a defined period of employment).

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