SYSTEMS DEVELOPMENT For employees looking to retire within the next two months please contact one of our team members to make the necessary arrangements. The State of Maryland pledges to provide constituents, businesses, customers, and stakeholders with friendly and courteous, timely and responsive, accurate and consistent, accessible and convenient, and truthful and transparent services. Maryland Independent Agencies RECORDS MANAGEMENT Maryland Executive Commissions, Committees, Task Forces, & Advisory Boards December 31, compared to the CPI for the prior calendar year. National Human Trafficking Hotline - 24/7 Confidential. Maryland Gov. Hogan rolls out last budget proposal as governor - WBAL OFFICE SERVICES Call: 240-740-3000 | Spanish Hotline: 240-740-2845E-mail: ASKMCPS@mcpsmd.org, Call: 301-517-8100 | E-mail: ersc@mcpsmd.org, 19952021 Montgomery County Public Schools, 850 Hungerford Drive, Rockville, Maryland 20850, Report Positive Student and Staff COVID Cases, Office of Human Resources and Development, prior to July 1, 2011 will be 3.00 percent, and. Claim the subtraction using code letter "v" on Form 502SU. Lawrence P. Katsafanas, Managing Director (410) 625-5626 a $59 million increase over FY 2022. except the Employees Non-Contributory Pension System and the when the systems investment fund earns or exceeds its assumed Gregory Ricci, Managing Director (410) 625-5631 Pension System Information | Anne Arundel County, MD COLA/Post-Retirement Benefit Adjustment - Employees' Retirement System fraud hotline to receive allegations of 2018 would become eligible for their first COLA in July 2019. The Maryland General Assemblys Office FIXED INCOME CURRENCIES & COMMODITIES Remember, the yearly COLA for members of the State core plan is made each spring and is effective on July 1. Danita Johnson, Managing Director (410) 625-5629 Md. retirees could see significant savings with signing of - 47abc A. monthly retirement benefit in July as the annual cost-of-living Thomas R. Montanye, Deputy Chief Information Systems Officer (410) 625-5530 Maryland Executive Commissions, Committees, Task Forces, & Advisory Boards Maryland State Retirement and Pension System (MSRPS) today Andrew C. Palmer, Chief Investment Officer (appointed by Board of Trustees upon recommendation of Executive Director) (410) 625-5620 Gregory Ricci, Managing Director (410) 625-5631 available due to legislation the General Assembly enacted during Melody L. Countess, Records Officer (410) 625-5650 Michael J. Stafford, Jr., Chair (chosen by Board of Trustees). State DBM-Employee Benefits Division - 1-1-2022 to 12-31-2022 Health Benefits Guide. Maryland Manual On-Line The increased monthly benefit will be shown on the Automatic years when this rate is not met. first COLA increase in July 2021. Gregory C. Kasten, Managing Director (410) 625-8306 The Maryland Retirement Tax Elimination Act. Director, effective July 1. MD State Tax Withholding(For non-Maryland residents, please contact the Office of Human Resources for the applicable withholding form. Search the Manual His new term will begin August 1. Leshia D. Cornish-Covington, Director (410) 625-5612 For more information on your plan, please visit the Maryland State Retirement Agency's website athttps://sra.maryland.gov/retirees, https://sra.maryland.gov/post/eligible-retirees-receive-1234-cost-living-adjustment-july, 8379 Piney Orchard Parkway, Suite A Details of the COLA calculation are set forth in Section 1.435 and 1.435(A) of the Howard County Code. retirees receive either a compound rate or a simple rate. the summer election were certified by the Board of Trustees July Form for reporting retirement income as per enacted House Bill 1148 by the Maryland General Assembly during the 2016 Session. QUANTITATIVE STRATEGIES provided in state law and is based on the change in the Consumer H. Joseph Puller, Director (410) 625-5878 Senate President Bill Ferguson and House Speaker Adrienne Jones, who are both Democrats, also praised the bipartisan nature of the agreement. Charles D. So, Director (410) 625-5590 e-mail: mcountess@sra.state.md.us, GENERAL ACCOUNTING DATA CONTROL Retiree Income Tax Credit. It is not necessary for agencies to submit duplicate requests to the Office . External Affairs Division, 2010-. mySRPS - Maryland Those who REAL ASSETS Information reported to the The adjustment is tied to the U.S. Maryland Constitutional Offices & Agencies The CPI for 2022 will increase by 5.94 percent. Effective, and revision dates for each set of scales is noted below. Maryland Independent Agencies Eligible retirees to receive 1.812% cost-of-living adjustment in July How is the annual COLA increase applied? GENERAL ACCOUNTING All in all, a record $7.5 billion will be invested in Maryland's public school system this year. the Local Fire and Police System from the Employees Retirement Baltimore, MD (Jan. 13, 2022) - Employees of the University System of Maryland will benefit from both cost-of-living and merit pay increases according to budget plans announced by the administration of Governor Larry Hogan on Jan. 4, 2022. Summary:As occurs each year, the Maryland State Retirement and Pension System (MSPRS) has announced the annual cost of living adjustment (COLA) rate. COLA rates established for 2021 Posted on March 9, 2021 Cost-of-Living Adjustments (COLAs) for DRS-administered retirement systems and plans that receive a COLA have been established for 2021. Kimberly A. O'Keeffe, Deputy Retirement Administrator (410) 625-5585; e-mail: kokeeffe@sra.state.md.us Patricia M. Fitzhugh, Deputy Chief Operating Officer (410) 625-5627 Maryland State Retirement & Pension System Lawrence P. Katsafanas, Managing Director (410) 625-5626 Vacancy, Director (410) 625-5665, INVESTMENT DIVISION that apply to retirees of the various state systems, so the COLA Today, we are announcing the largest tax cut package in state history and delivering long-overdue relief for Marylands overtaxed retirees.Read my full statement: pic.twitter.com/xPbArrp01i. Ex officio: Brooke E. Lierman, Esq., Comptroller of Maryland; Dereck E. Davis, State Treasurer; Helene T. Grady, Acting Secretary of Budget & Management. This bipartisan agreement helps hundreds of thousands of seniors on fixed incomes who are struggling with inflation and puts families on a stronger footing as they buy necessities and pay for child care or college, Jones said in a statement. External Affairs Division. Delores J. Mitchell, Director (410) 625-5651 A payee must be retired for at least twelve months before they are eligible for their first COLA. The Republican governor called the bipartisan deal "the largest tax cut package in state history with major and long-overdue relief for Marylands retirees.. PENSION SYSTEMS OPERATIONS Andrew C. Palmer, Chief Investment Officer (appointed by Board of Trustees upon recommendation of Executive Director) (410) 625-5620 Maryland State Retirement and Pension System, Health Insurance Premium Tax Exclusion FAQ, Enrollment and Withdrawal for Local Governments, Fiscal Year Quarterly Performance Reports, Maryland Pension Risk Mitigation Act Risk Assessment, Historic Earnings Moves The Maryland State Retirement and Pension System Funded Ratio Close to 80%, Actuary Says MSRPS Funded Ratio Nearly 77%, State Retirement Board Reduces Actuarial Assumed Rate of Return, Rate reduced from 7.40% to 6.80% for Fiscal 2023, The Maryland State Retirement and Pension System Earns Historic 26.7% During FY 2021, Fund grows more than $13 billion to nearly $68 billion, SRPS members return Craddock to Board of Trustees, COVID-19 Line-of-Duty Death Benefit Now Available to Members of the Maryland State Retirement and Pension System, Special Benefit Covers Period Between March 5, 2020 and July 1, 2022, Martin Noven named Executive Director of Maryland State Retirement Agency, Eligible retirees to receive 1.234% cost-of-living adjustment in July. QUANTITATIVE STRATEGIES correctional officers and police will notice an increase to their PRIVATE EQUITY death benefit: Baltimore, MD (May 19, 2021) Following a nationwide search fraud and/or abuse of State government Retiree Forms. PRIVATE EQUITY Maryland is both a high income and high cost-of-living state, a tribute to its robust economy and educated workforce but a potential problem for those living on a fixed income as so many older . e-mail: rdiehl@sra.state.md.us Gregory Ricci, Managing Director (410) 625-5631 Danita Johnson, Managing Director (410) 625-5629, REAL ASSETS Top 20+ Maryland State Employee Cola 2022 - cuisine.best Board Approves Maximum COLA for 2022 | SERS SYSTEMS DEVELOPMENT Maryland Departments GENERAL ACCOUNTING Department of Labors Consumer Price Index. Fiscal Affairs. Elected by Employees' Retirement & Pension Systems' members & beneficiaries to 4-year terms: Sheila Hill, 2023; Jamaal R. A. Craddock, 2025. Appointed by Governor with Senate advice & consent to 4-year terms: Thomas M. Brandt, Jr., 2023; Michael J. Howard, 2023; Michael J. Stafford, Jr., 2023; Matthew W. Wyksiel, 2024; James P. Daly, Jr., 2025; Robert F. Sandlass, Jr., 2025. All members eligible for the COLA will receive notice by mail with their 2022 percentage. NEW NRTA film on their NRTA 75th Anniversary AARP News. PDF Retirees to see monthly benefit to designate increase with July 2022 Per San Diego Municipal Code section 24.1505 and section 1301 of the Port and Airport Plans, the COLA is calculated every year based on the change in the cost of living between the two previous Decembers, as published by the Bureau . The signature feature of the governor's 2023 budget proposal is a $4.6 billion tax relief plan for retirees. Please enable JavaScript in your browser. retirees receiving the compound rate, the COLA increase is based FINANCIAL ACCOUNTING OPERATIONS PUBLIC EQUITY Retirees of the Howard County Retirement Plan and The Howard County Police and Fire Employees' Plan can manage their information online by going tohttps://howardcounty.mypenpay.com. The COLA will be paid as a 1.5% increase as of July 1, 2022 with the following stipulations: must have a retirement effective date on or before 12/01/2021 for the July 2022 COLA, and non-disability retirees must be at least 45 years of age or older Charles D. So, Director (410) 625-5590 Copyright 2023 by Howard County, Maryland, Karen Gerald- Assistant Retirement Coordinator. four-year term by members and retirees of the System. 2022 Cost-of-Living Adjustment Coming in May - CalPERS PERSpective 1.234%. Lawrence P. Katsafanas, Managing Director (410) 625-5626 The fiscal year earnings far exceeded the Systems 7.40% Vacancy, Director (410) 625-5608 For more information see Maryland State Retirement Agency links below or here. Those who retired after July 2021 (August 2021 or later) will be eligible to receive their first COLA in July 2023. Danita Johnson, Managing Director (410) 625-5629 PUBLIC EQUITY Lawrence A. Election Results & Monthly Registration Reports, Commission for Transitioning Students with Disabilities, Commission for Veterans & Military Families, Economic Development Authority Board of Directors, Housing Opportunities Trust Fund Advisory Committee, Howard County Domestic Violence Fatality Review Team, Human Trafficking Prevention Coordination Council, Spending Affordability Advisory Committee, Human Rights & Equity Commissions & Workgroups, Asian American Pacific Islander Workgroup, Dr. Martin Luther King, Jr., Holiday Commission, Howard County Circuit Courthouse Archives, Become A Registered Family Child Care Provider, Coalition To End Homelessness - Continuum Of Care, Community Service Partnership (CSP) Program, Coordinated System of Homeless Services (CSHS), Emergency Food and Shelter Program (EFSP), Homeless Management Information Systems (HMIS), 2024-2029 Howard County Hazard Mitigation Plan Update, State & Local Fiscal Recovery Funds (SLFRF) Survey, Alternate Payment & Document Processing Options, Citations: Tickets, Red Light, School Bus and Speeding, Youth Fire Prevention and Intervention Program, Adoption & Foster Care Homes Pre-Inspection Checklist, Criminal Justice Behavioral Health Services, COVID-19 Information for Healthcare Facilities & Providers, COVID-19 Information for Older Adults & High Risk Populations, COVID-19 Resources for Childcare & Schools, Tobacco/Vaping Use Prevention & Cessation, Construction or Remodeling of a Food Service Facility, Farmers Markets & Cottage Food Businesses, Food Facility Information for Non-Profits, Child Fatality Review (CFR) / Fetal & Infant Mortality Review (FIMR), Sexually Transmitted Infection (STI) Program, Moderate Income Housing Unit (MIHU) Program, Housing Opportunities Master Plan & Task Force, MIHU Information for Developers or Builders In Howard County, General Benefits Information & Price Tags, Health Insurance For Active Employees & Retirees, Liberty Mutual Auto & Homeowners Insurance Discounts, How To File a Complaint, Case Processing & Services, Procedure For Online Commercial Interior Plan Submittal, New Town Development Process & Procedures, Law Enforcement Assisted Diversion Program, Veteran-Owned Business Enterprise Program (VOBE), Transportation & Special Projects Division, Alpha Ridge Landfill Gas-To-Energy Project, Vulnerable Watershed Restoration and Resiliency Program, Little Patuxent Water Reclamation Division, Baltimore & Ohio Ellicott City Station Museum, Staff Directory, Inclement Weather & Program Status Lines, Current Shared Electric Scooter Operations, Complete Streets Infrastructure Improvement Projects, Current Howard County Transit Development Plan, Columbia Road Traffic Operations Assessment & Complete Streets Study, Oakland Mills Road Complete Streets Project, Update direct deposit and tax withholding elections, View copies of the previous 5 years' Form 1099-R. e-mail: tmontanye@sra.state.md.us, INFORMATION SYSTEMS SECURITY & QUALITY MCPS Retirement Plan Members Disclaimer. of the Maryland State Retirement and Pension System (MSRPS) today Robert A. Diehl, Chief Information Systems Officer (410) 625-5547 Melody L. Countess, Records Officer (410) 625-5650 SPECIAL PROJECTS Baltimore, MD (August 10, 2021) The Board of Trustees of the Copyright 2023 NBCUniversal Media, LLC. This rate is then compared to the maximum COLA rate allowed by If you or your covered dependents are eligible for Medicare, you may have additional options for prescription drug coverage through the Medicare prescription drug plans (Part D) that became available January 1, 2006. retired after July 2019 (August 2019 or later) will receive their Dimitri Grechenko, Managing Director (410) 625-5614 earned on or after July 1, 2011, the adjustment is capped at 2.5% Gregory Ricci, Managing Director (410) 625-5631 View the 2022 COLA percentagesby retirement date and plan. New! Copyright 2023 Washington State Department of Retirement Systems, Make time this month for a retirement checkup, Annual Comprehensive Financial Report (ACFR), Participating Employer Financial Information (PEFI). e-mail: sra@sra.state.md.us has increased to 76.9%, up from 73.6% reported the previous Cost of Living Adjustment ("COLA") for Fiscal Year 2022 Maryland Executive Commissions, Committees, Task Forces, & Advisory Boards payee with a retirement date of August 2018 would become eligible Questions? Danita Johnson, Managing Director (410) 625-5629, QUANTITATIVE STRATEGIES Lawrence P. Katsafanas, Managing Director (410) 625-5626 retired at least one year as of July 1 to be eligible to receive LEOFF Plan 1 COLAs will take effect April 1 and will be reflected in end-of-April benefit payments. It is important to note that the increase will be applied to your gross monthly retirement benefit, before any tax withholding or health insurance premium payments. Jones, of Baltimore County, said the House started the session with the goal of helping Marylanders left behind in the post-pandemic recovery. Richard E. Norman, Chair Vacancy, Director (410) 625-5665 State DBM-Employee Benefits Division - 1-1-2023 to 12-31-2023 Health Benefits Guide. Medical Plans: CareFirst BlueCross BlueShield (EPO, PPO) Kaiser Permanente (IHM) UnitedHealthcare (EPO, PPO) Prescription Drug Plan: CVS Caremark. A payee does not need 6mm cartilage earrings. Privacy and Security Policies. . FY 2023 (01/01/2023) SYSTEMS DEVELOPMENT the 2021 Legislative Session in response to the COVID-19 Robert A. Diehl, Chief Information Systems Officer (410) 625-5547 Search the Manual Kenneth M. Reott, Retirement Administrator (410) 625-5659 e-mail: mdmanual@maryland.gov. For To view the FY 2022 MFR Strategic Plan in PDF format click the document link. Vacancy, Director (410) 625-5665, SYSTEMS DEVELOPMENT The Maryland Retirement Tax Reduction Act, signed into law by Governor Larry Hogan, is a tax relief package offering a tax credit for retirees. Every July 1, a Cost-of-Living Adjustment (COLA) is added to the monthly benefit of each retiree and beneficiary who has been in pay status for 12 months or more. e-mail: mcountess@sra.state.md.us, RECORDS MANAGEMENT certified the fiscal year 2021 actuarial valuation as presented Charelle Saunders, Director (410) 625-5500 Other caps may apply. 20. RETIREMENT ADMINISTRATION DIVISION COLA | mrspa Q. Cost-of-Living Adjustment (COLA) - CalPERS Chosen by Board of Trustees: hbbd```b``9dIE4A$S(d@0&L^O@=d0?M Ra*#oPj BY Benefit adjustments will be greater than the posted increase for each plan and will vary dependent upon past COLAs awarded to the individual retirees and beneficiaries. COLAs may not exceed the CPI. OBJECTIVE CRITERIA COMMITTEE SPECIAL PROJECTS Maryland Counties MEMBER SERVICES & COUNSELING 410-625-5555 Local Fire and Police System. LEOFF Plan 1 COLAs will take effect April 1 and will be reflected in end-of-April benefit payments. ), Howard County Office of Human Resources, Attn: Retirement Coordinator, 3430 Court House Dr., Ellicott City MD 21043, Retirees receiving benefits from the Maryland State Retirement Agency should follow this link for forms:www.sra.state.md.us. For employees looking to retire within the next two months please contact one of our team members to make the necessary arrangements. Lawrence P. Katsafanas, Managing Director (410) 625-5626 David E. Ferguson, Managing Director (410) 625-5633 As occurs each year, the Maryland State Retirement and Pension System (MSPRS) has announced the annual cost of living adjustment (COLA) rate. The COLA rate of 4.698% becomes effective July 1, 2022. The benefit is now 2021. Odenton, MD 21113-1508, MRSPA is a proud affiliate of the National Retired Teachers Association. e-mail: apalmer@sra.state.md.us Retirees 65 years old and older that make up to $100,000 . Deposit Advice mailed to the homes of all retirees on July 31. Under the simple rate, the increase is based on the retirees fiscal year. *The COLA catch-up is in effect for retirees and beneficiaries whose benefit commencement began prior to August 1, 2020*. DATA CONTROL The state started the session in January with about $4.6 billion in surplus, and the amount grew even higher as officials revised revenue estimates earlier this month. e-mail: drongione@sra.state.md.us, FINANCE DIVISION BENEFITS PROCESSING Robert H. Burd, Deputy Chief Investment Officer (410) 625-5571 BALTIMORE, MD (June 4, 2020) Effective immediately, a special INFORMATION SYSTEMS SECURITY & QUALITY 73 were here. Rachel S. Cohen, Principal Counsel (410) 625-5684 The Maryland Retirement Tax Reduction Act - New Tax Savings NRTA News . Rights assessment, and full originating source citation, is the responsibility of the user. ADMINISTRATION "The significant increase in capital spending, coupled with the Work Opportunity Tax Credit, will help Maryland businesses put more chronically unemployed Marylanders back to work.. web: https://sra.maryland.gov/. July 1, 2022, qualifies for this year's COLA. Search the Manual 402 0 obj <>stream INFORMATION SYSTEMS hotline in the past has helped to eliminate For example, a payee with a retirement date of July 2019 would become eligible for their first COLA in July 2020. 364 0 obj <> endobj State Police Retirement System, 1949-70. 120 East Baltimore St., Baltimore, Maryland, August 2015. Eligible Q. 2023 cola for maryland state retirees retirees in these 5 states will get the biggest social security retireenewsjuly2022 draft_retireenews cola . Thomas M. Brandt, Jr.; Jamaal R. A. Craddock; Kenneth B. Haines; Michael J. Howard; Robert F. Sandlass, Jr. CORPORATE GOVERNANCE & SECURITIES LITIGATION COMMITTEE AUDIT COMMITTEE Maryland Municipalities to be retired for at least twelve months before becoming eligible INVESTMENT DIVISION For more information see Maryland State Retirement Agency links below or here. State of Maryland employees who retired on or after July 1, 2021 will be eligible for the annual COLA beginning July 2022. The supplemental budget is submitted to the legislature as an amendment to the governor's proposed budget for Fiscal Year 2022, which provides a record $7.5 billion for K-12 education, historic . PDF I.2 NEW FOR FY 2022 - dbm.maryland.gov Van A. Lewis, Director (410) 625-5655 ADMINISTRATION Those retirees receive adjustments based on the pandemic. COLAs for payees of the Judges Retirement System or the Typically, this benefit begins the second calendar year of retirement, although the annual rate of inflation and retirement law could affect the onset of your COLA. Systemwide Human Resources - USM - University System of Maryland Hogan and the legislature's presiding officers plan to hold a bill signing ceremony later this week. Public members appointed by Board of Trustees with Board of Public Works' approval to 3-year terms: Michael K. Barry, 2022; Anne Shelton, 2023; Monte Tarbox, 2024. INFORMATION SYSTEMS SECURITY & QUALITY The COLA for benefits based on credited service earned after July 1, 2011, is subject to a 2 percent cap. Retired Maryland teachers, state and municipal employees, The plan includes the Work Opportunity Tax Credit to incentivize employers and businesses to hire and retain workers from underserved communities that have faced significant barriers to employment. Melody L. Countess, Records Officer (410) 625-5650 Price Index (CPI) for the most recent calendar year ending Maryland State Retirees - Maryland.gov Enterprise Agency Template Please check back in the Fall of 2023 for further information. It also includes funding to expand access to child care and protect against growing cyber security threats. ANNAPOLIS, MD Governor Larry Hogan today announced that all employees across state government would receive a 4.5% cost of living adjustment (COLA )increase effective November 1, 2022as part of a series of measures to enhance statewide workforce recruitment and retention efforts. Dimitri Grechenko, Managing Director (410) 625-5614 year as of July 1, 2020 qualifies for this years COLA. JavaScript is required to use content on this page. Maryland State Retirement & Pension System - Historical Evolution DATA CONTROL Salaries are budgeted for the Fiscal Year, and are typically updated in July to reflect Cost of Living Adjustments (COLA's), if approved during legislative session each spring. David S. Toft, Sr., Director (410) 625-5562 Gregory Ricci, Managing Director (410) 625-5631 Maryland Municipalities e-mail: kreott@sra.state.md.us Danita Johnson, Managing Director (410) 625-5629 Maryland at a Glance Trustee members appointed by Board of Trustees: James P. Daly, Jr.; Dereck E. Davis; Sheila Hill; Richard E. Norman; Douglas Prouty; Michael J. Stafford, Jr., two vacancies. Maryland Manual On-Line All rights reserved, Maryland Governor Submits $292M Supplemental Budget, Amendment on Abortion Doesn't Advance in Maryland, Maryland Judge Rules New Congressional Map Unconstitutional, Eagles Wide Receiver Zach Pascal Robbed at Gunpoint in Maryland, Watch News4: Live and Replays on NBC4 App, Peacock, Roku, Samsung TV Plus & Xumo Play, Good Samaritan Rescues Woman From Frigid Potomac River. Q. Maryland Families The Retirement Tax Reduction Act will phase-in the . . Andrew C. Palmer, Chief Investment Officer (appointed by Board of Trustees upon recommendation of Executive Director) (410) 625-5620 SYSTEMS DEVELOPMENT 2023 cola for military retirees - ptcqyk.wikifit.it It includes info on the monthly benefit increase with July 2022 COLA. actuarial rate of return (currently 6.8%) or capped at 1% in Retirement | Howard County Melody L. Countess, Records Officer (410) 625-5650 The Maryland State Retirement Agency has announced the cost-of-living adjustment to be applied in July 2022. By statute, SERS' COLA is based on the year-to-year change in the Consumer Price Index (June 2020 to June 2021) for Urban Wage Earners (CPI-W), with a range of 0% to 2.5%. Cost-of-Living Adjustments (COLAs) for DRS-administered retirement systems and plans that receive a COLA have been established for 2022. Leshia D. Cornish-Covington, Director (410) 625-5612 The chart below shows the percentage of COLA increase that . e-mail: rburd@sra.state.md.us APPROVED: A 1.5% monthly cost of living adjustment (COLA) for retirees and beneficiaries. Under this subtraction modification, up to a specified maximum amount of taxable pension income ($34,300 for 2021) may be exempt from tax. Retired Maryland teachers, state and municipal employees, correctional officers and police will notice an increase to their monthly retirement benefit in July as the annual cost-of-living adjustment (COLA) takes effect. The Cost-of-Living Adjustment (COLA) is a benefit to ensure your value of money at retirement keeps up with the rate of inflation. first COLA. e-mail: apalmer@sra.state.md.us SPECIAL PROJECTS A retiree who has been retired at least one The tax relief agreement comes at a time when the state has billions of dollars in surplus that has resulted from enormous federal aid to address the COVID-19 pandemic. Vacancy, Director (410) 625-5665, PENSION SYSTEMS OPERATIONS Kenneth M. Reott, Retirement Administrator (410) 625-5659 RETIREMENT ADMINISTRATION DIVISION Payees may be eligible to receive COLAs on their retirement allowance each July. A retiree who has been retired at least one year as of July 1, 2022, qualifies for this year's COLA. 2022 Cost-of-Living Adjustment Coming in May. Maryland State Retirement and Pension System (MSRPS) has voted to Lawrence A. Cost-of-living adjustment payable to eligible payees in July 2022