Postretirement Increases

As a State Police retiree, you will receive a fixed 2 percent annual increase, not to exceed $500. You will receive your first increase in the second October after your retirement. For example, if you retire July 1, 2006, you will receive the first increase in October 2007; if your annual increase is $480, you will get $40 more per month.

The 2 percent increase does not compound, but it does accumulate. In the second year after retirement, your initial pension increases by 2 percent of your initial pension, not to exceed $500. Following the example above, you would get an additional $40 per month in the second year, and each year thereafter.