Each year, the Board of Trustees reviews the system’s financial position before determining whether to grant LAGERS retirees a cost-of-living-adjustment (COLA). At their June 12 quarterly meeting, the board approved a resolution authorizing a COLA for eligible retirees in 2026.
Retirees will see adjustments take effect on their Oct. 1 benefit payments.
COLAs are one of the most valuable features of being a LAGERS member. Although Missouri law prevents adjustments from exceeding 4% in any one year, LAGERS’ COLAs are cumulative. In other words, LAGERS will continue granting adjustments each year until retirees reach 100% of the purchasing power of their original benefit. This protects retirees from the long-term effects of inflation by maintaining the purchasing power of their monthly benefit over time.
Individual adjustment amounts will vary depending on each retiree’s effective retirement date and past COLA adjustments. To receive a COLA, a retiree must have been retired for 12 consecutive months, including an Oct. 1.
To learn more about how LAGERS’ cost-of-living adjustments work, visit molagers.org.
