PERS Post Retirement Pension Adjustments (PRPAs)
The automatic Post Retirement Pension Adjustment (PRPA) is payable to eligible Public Employees' Retirement System (PERS) retirees when the cost of living increases based on the consumer price index for urban wage earners and clerical workers for Anchorage.
Once each year the administrator shall increase benefit payments to eligible disabled members and to retirees age 60 or older receiving benefits under PERS in the preceding calendar year, and to persons who have received benefits under PERS for at least 5 years.
The PRPA is calculated, effective July 1 each year, by multiplying the recipient's base benefit, including past PRPAs, times:
- 75% of the cost of living increase in the preceding calendar year or 9%, whichever is less, if the recipient is at least age 65 or on PERS disability on July 1; or
- 50% of the cost of living increase in the preceding calendar year or 6%, whichever is less, if the recipient is at least age 60 on July 1, or under age 60 if the recipient has been receiving PERS benefits for at least 5 years as of July 1.
Eligible recipients, who have not received pension benefits during the entire preceding calendar year, will receive a prorated PRPA.