Retirement allowances are paid on a monthly basis. ACERA mandates signing up for direct deposit, so that your monthly check will be deposited directly into your bank account. Direct deposit is easy, safe, and reliable, and can save you time and money. You will receive a monthly Electronic File Transfer (EFT) statement in the mail each month whenever you are paid through direct deposit. This process ensures the receipt of funds, especially in the case of a natural disaster, Post Office delivery delays, or theft.
A cost of living adjustment (“COLA”) is made annually in accordance with the changes in the Consumer Price Index (“CPI”) for the San Francisco Bay Area. Adjustments are made annually on April 1. Allowances may be increased up to a maximum yearly limit of 3% for tier 1 and 3 members and 2% for tier 2 and 4 members.
See the COLA page in the Retirees section for current COLA information.