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News from Your Fairfax County Retirement System
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Welcome to Your Retirement System News
We are writing to you, our retirees, to see if you are interested in receiving periodic emails from us regarding your retirement benefits and related matters. Our goal is to keep you informed about your Fairfax County retirement, whether you are a member of the Employees,' Police Officers, or Uniformed Retirement Systems.
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What We Plan to Include in These Newsletters
We are open to your suggestions for topics that you would like to hear about. But we are planning on include the following types of stories:
- How Your Pension is Funded
- How We Invest Your Pension Funds
- How Your Annual Cost of Living Adjustment (COLA) is calculated
- How to Use Our Online myRetirement Website
- When we will be holding online virtual retiree meetings
- Who is here in the Retirement Systems office to help you
- Who your retirement Board of Trustees members are
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What We Will NOT Do
We promise a few things:
- we will not share, sell, or otherwise provide your email address with anyone.
- we will not send out advertisements or anything from outside companies.
- we will not send you these email newsletters if you do not wish to receive them.
- If you do not wish to receive these email newsletters, click on the following button or the unsubscribe link at the bottom of this page.
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Annual Retiree Cost-of-Living Increase (COLA)
In May, the US Bureau of Labor Statistics (BLS) that the Consumer Prince Index for the Washington DC area was up 3.7% for the year from March of 2022 March of 2023. You may wonder how the CPI-U is calculated. The Bureau of Labor Statistics uses a representative sample of the types of goods and services that consumers spend their money on to determine how much prices overall went up from year to year. They group these goods and services into 8 general categories; everything from food to transporation to mediccal care. The chart below shows how much each of these categories increased or decreased from March of 2022 to March of this year.
So your annual cost of living increase will be 3.7% this year. It will show up in your July 2023 retirement benefit pay.
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What Will Your COLA Be if You Retired in the Last Year?
If you retired on or after July 1st of 2022, your COLA for this year will be prorated as shown in the table on the right. For instance, if you retired between July and September of last year, your COLA will be calculated as 3.7% x 0.75 = 2.775%.
Next year, and for every year after, you will receive the full COLA. For more information about your COLA, click on the following button.
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When you move, or if you have moved recently, please let us know your address so that we can contact you if we need to. Use one of the following forms to let us know your address:
Then simply fill out the form, and return it to us by US Mail or email.
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We'd love to hear from you. Your feedback on this newsletter or anything else retirement-related is much appreciated. Click the following button and send us your thoughts, concerns, or complaints.
Please Let Us Know if You Need Anything!
On behalf of the team here in Retirement, I wish you the best in retirement. And if you need something or have a question, feel free to call or email me.
Thanks!
Jeff Weiler
Executive Director
Fairfax County Retirement Systems
703-279-8255
jeffrey.weiler@fairfaxcounty.gov
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For More Information...
Check out the Retirement Systems Website, by clicking one of the following buttons.
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