Annual Increase

Annual increases for monthly benefits are determined by Minnesota Statutes. Increases are effective January 1 of each year for eligible benefit recipients. 

The increase percentage for Coordinated and Correctional members is tied to the same consumer price index (CPI) used by the Social Security Administration. Coordinated benefit recipients receive 50% of the Social Security increase, but not less than 1.0% or greater than 1.5%. Correctional benefit recipients receive 100% of the Social Security increase, but not less than 1.0% or greater than 2.5%. The Police & Fire increase is not currently tied to CPI and is fixed at 1.0%.

MERF and Basic benefit recipients receive the same increase amount as Coordinated. Minneapolis Police and Minneapolis Fire benefit recipients receive the same increase amount as Police & Fire.

Can PERA tell me my new 2024 benefit amount?

PERA benefit counselors will not be able to provide new benefit amounts at this time. 2024 benefit amounts, including gross benefit, taxes, other withholding, and net payment will not be available until the end of December. Please log into your myPERA account after December 21 to find this information.

New to receiving PERA benefits?

Your first increase will depend on the type of benefit you are receiving, the plan, and the start date. After your first increase, all future increases will be the full amount per statute. See you Plan’s increase fact sheet under the resource section for more information.