IDB Group Staff Retirement Plan || Article 15 Cost-of-Living Increases / Adjustment Effective January 1, 2020

Dear Colleagues:

In accordance with Article 15 of the Staff Retirement Plan (SRP), any pensions and benefits under Sections 4.1, 4.2, 4.3, 4.4, 4.5, and 4.6 in effect before January 1, 2020 are eligible for Cost-of-Living Increases to reflect the ratio of Cost-of-Living Index applicable as of such January 1st preceding January 1st on the basis of the Consumer Price Index (CPI) for All Urban Consumers, U.S. City Average, all items, with 1982-84 equaling 100, as published by the U.S. Department of Labor, Bureau of Statistics.

The CPI for November 2019 is 257.208, as published by the U.S. Department of Labor, Bureau of Statistics.  This ratio is 2.051% greater computed in respect of the same CPI applicable for prior January 1, 2019 (252.038).  The 2.051% Cost-of-Living ratio should be applied to adjust pensions and benefits effective January 1, 2020.  Pensions and benefits with benefit commencement during 2019 should be adjusted on a pro rata basis.

Pro rata Basis:

MONTHS YEAR INDEX Pro rata COL %
JANUARY and before 2019 252.038 2.051
FEBRUARY 2019 252.469 1.877
MARCH 2019 252.900 1.704
APRIL 2019 253.331 1.531
MAY 2019 253.761 1.358
JUNE 2019 254.192 1.186
JULY 2019 254.623 1.015
AUGUST 2019 255.054 0.845
SEPTEMBER 2019 255.485 0.675
OCTOBER 2019 255.916 0.505
NOVEMBER 2019 256.346 0.336
DECEMBER 2019 256.777 0.168
JANUARY 2020 257.208
YEARLY INCREMENT 5.170
ANNUAL % 2.051
Prev. Year Index 252.038
COL %   2.051
New Index 257.208

 

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