Calpers Cola 2024 Increase Announcement Today. This continued into the early 2000s when lower inflation levels led to no cola adjustments in 2010, 2011, and 2016. Altogether, the annual bill is expected to hit $8.7 billion.

The result is that mathematically you will get a higher adjustment over time than by simply multiplying your cola by your gross allowance. That accounts for raises that drove up the state payroll by about 4.7% last year, almost 2% greater than calpers anticipated.