Retirement Age

No, Alaska State Retirees Won’t Get A Raise In 2023

Last Updated on:
October 16, 2023
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No, Alaska retirees will not receive an increase in retirement in 2023. The Alaska Public Employees’ Retirement System (PERS) and the Teachers’ Retirement System (TRS) do not have automatic cost-of-living adjustments (COLAs) for retirees. Instead, the Alaska Legislature must approve any COLA increases on a case-by-case basis.

The Alaska Legislature has not approved a COLA for retirees since 2016. In 2023, the Legislature considered a bill that would have provided a one-time COLA to retirees, but the bill was not passed.

The lack of COLAs has been a challenge for Alaska retirees, who have faced rising costs of living in recent years. However, there are some resources available to help Alaska retirees, such as the Alaska Senior Benefits Program and the Alaska Senior Citizen Property Tax Exemption.

If you are an Alaska retiree, you can contact the PERS or TRS for more information about your benefits and resources that are available to you.

Written By:
Bryan Henry
Hi, I’m Bryan and I am delighted to make your acquaintance. Finances and business are my passions, and I have devoted myself to becoming an expert on all things related to money management. As the founder and owner of my own successful enterprise, I have acquired invaluable hands-on knowledge about entrepreneurship, budgeting, investing, and more.