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PERA COLA and Pension update

Sherburne Co Jail

The good news is the Cost of Living Adjustment (COLA) for the PERA Correctional Plan is 2.5% for 2022. Of course the bad news is inflation is at 7%.

A draft of the letter to be given to the LCPR was sent to committee members for review. It is not finalized. The draft does state that no consensus was reached on improving the dispatch pension or adding them to the PERA Correctional Plan.

The Pension Benefits Working Group has one more meeting scheduled for January 28th. No agenda is out yet, but most probably discussing Chad Burkitt's draft letter to finalize.

We will update when more is available.

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