Board reviews legislative COLA update, ADA accessibility guidance and retirement estimate process

Jones Walker counsel and staff provided administrative updates to the board covering three topics: a legislative COLA action, ADA web accessibility guidance and the process and timing for retirement benefit estimates.

Pedro of Jones Walker told trustees the legislature approved a 1.5% special‑risk cost‑of‑living adjustment in the recent budget for eligible hires (those hired on or after July 1, 2011); the increase would apply five years after retirement for covered members. “The legislature approved, a special risk COLA in the amount of 1.5%…and so it would be it would kick in 5 years after their retirement,” Pedro said; he added the governor had not yet signed the budget at the time of the meeting.

Pedro also reviewed a Department of Labor rule and a one‑year extension related to accessibility for posted documents and recommended the board require service providers to deliver documents in ADA‑accessible format to ease the city’s compliance burden during the transition.

On retirement processing, staff and trustees discussed the estimate and final calculation workflow, including portal‑based estimates and optional formal estimates with fees (trustees referenced a $300 figure for optional estimates). Staff said final retirement calculations typically take 45–60 days after a retiree’s last paycheck is received and highlighted practical timing considerations tied to payroll cycles.

Staff will circulate training sign‑up information for the FPPTA Trustee School and follow up on ADA formatting and sample cybersecurity reports as directed.