Cost of Living Adjustment (COLA) on Retirement Benefits. Retirees will receive a COLA that is the lesser of 1.5% or the Social Security COLA, applied each January, beginning on the third January following the commencement of the retiree’s benefits.
Appears in 4 contracts
Samples: Retirement Reform Agreement, Retirement Reform Agreement, 2014 Retirement Reform Agreement
Cost of Living Adjustment (COLA) on Retirement Benefits. Retirees will receive a COLA that is the lesser of 1.5% or the Social Security COLA, applied each January, beginning on the third January following the commencement of the retiree’s benefitsemployment separation.
Appears in 2 contracts
Samples: 2014 Retirement Reform Agreement, 2014 Retirement Reform Agreement
