Would you please pass on the following information about our COLA increase and potential 13th Check:
The COLA increase in monthly checks will be seen in each retiree’s check, as of January 31, 2021. The increase will be 1.4% for older retirees ( those who retired prior to 9/30/99; and 1.1% for those of us who retired after 1999. You can log into the pension fund website and view the actual dollar amount your monthly pension will increase....the data is there now.
The preliminary pension fund performance numbers are in for 2020. It appears we will have greater than a 9% return for the year ended 2020. This is amazing since our investment performance as of April 2020 was approximately a negative 5%. In fact, our performance as of September 30, 2020 was .6% ( less than 1% ). The final quarter of 2020 , provided us with that amazing “V” return and we ended the year with investment performance that should allow the Board to issue a 13th Check. The Board has not yet met to determine when this check will be issued, but if the positive 9% return holds, as performance numbers come in from our non-publicly traded investments, I expect we will receive a 13th Check in March 2021.
I will keep you informed if things change, but I expect 2020 investment returns, coupled with the previous 4 years will allow the Board to vote in favor of issuance of a 13th Check.
Harry Griffin, Board Member
Fire & Police Pension Fund, San Antonio