Post Retirement Pension Adjustments (PRPA)
The automatic Post Retirement Pension Adjustments (PRPA) is payable to eligible Teachers' Retirement System (TRS) 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 TRS in the preceding calendar year, and to persons who have received benefits under TRS for at least 8 years.
The PRPA is calculated, effective July 1 each year, by multiplying the recipient's base benefit, including past PRPA's, 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 TRS 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 TRS benefits for at least 8 years as of July 1.
Eligible recipients, who have not received pension benefits during the entire preceding calendar year, will receive a prorated PRPA.