TOWSON, MD—Baltimore County Executive Johnny Olszewski on Wednesday announced that the Employees’ Retirement Board voted to approve a three percent cost of living adjustment for eligible retirees, effective July 1, 2022.
“Our retirees have dedicated their lives to serving the residents of Baltimore County, and they deserve to be recognized for their contributions to our communities,” Olszewski said. “This increase in compensation is well deserved and long overdue.”
Baltimore County government retirees receive cost of living adjustments (COLAs) through the Post Retirement Increase Fund, which is overseen by the Retirement Board. A COLA is provided only if there is sufficient funding to provide at least a one percent COLA.
“I am extremely happy that the Employee Retirement Board is moving to support a much deserved cost of living adjustment of three percent to our retirees,” said Baltimore County Council Chairman Julian Jones. “This has been a legitimate and constant request from our retirees for the last ten years and I am very happy County Executive Olszewski will make this a priority.”
In the last decade, eligible County retirees have only received a one percent cost of living adjustment. The three percent increase applies to eligible retirees effective July 1, 2022.
For more information, Baltimore County government retirees may contact the Retirement Office by email at email@example.com or call 410-887-8246.