Many pension funds' cost-of-living increases are rising significantly for the first time in years, adding to retirement system liabilities
Cost-of-living increases are rising significantly for the first time in years, adding to retirement system liabilities
The Federal Reserve has signaled it plans to raise interest rates in 2022 in response to stubbornly high inflation. WSJ’s J.J. McCorvey explains what higher rates could mean for your finances. Photo illustration: Todd JohnsonRising inflation is driving up expenses for many large U.S. pension funds that have promised retirees cost-of-living raises.
About half of states link pension benefits for some or all of their retired workers to changes in the consumer-price index, according to the National Association of State Retirement Administrators. With , some retirement funds are now looking at increasing pension checks by 3% or more for the first time in a decade. At others, board members or state officials are approving one-time cost-of-living raises.
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