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Overland sets 2026 COLA for police retirees at 0.47%
Summary
City Clerk Melissa Burton reported the St. Louis Metropolitan CPI rose 2.36% and the Police Plan will receive a COLA equal to 20% of that change (0.47%), effective April 1, 2026; one retiree will receive a $385.66 retroactive payment.
City Clerk Melissa Burton told the joint pension boards that the change in the St. Louis Metropolitan CPI for 2026 is 2.36 percent and, "in accordance with the Municipal Code Section 200.490, eligible retirees of the Police Plan will receive a cost-of-living adjustment (COLA) on April 1, 2026." She said the board's formula sets COLA at 20% of the CPI change, which results in a 0.47% increase for Police Plan retirees.
Burton noted the Police Plan's funding level in the FY2024/2025 GASB 67/68 report was 56.27 percent. She also said one retiree will receive a first, retroactive COLA payment of $385.66, which was described in the staff report as a 13.07 percent increase for that retroactive payment. The COLA and funding-level figures were presented as part of the staff report and entered into the meeting record.
