Will My Pension Increase After I Retire?
by Sara Orozco, Strategic Planning
One of the most common questions we get from retirees relates to whether they will receive regular increases to their pension. Many are surprised to learn that the ASRS was not designed to provide for yearly post-retirement benefit increases.
By design, the ASRS is meant to be one of three sources of income in a member’s overall retirement portfolio, with social security and personal savings being the other two. In retirement-speak, this is commonly referred to as the three-legged stool. As a member of the ASRS, most of you are contributing to two of these - ASRS and Social Security - already.