Summary
City retirees have lost purchasing power for years because the Richmond Retirement System has granted only three ad hoc COLAs since 2006. The new ordinance sets a transparent, CPI-tied policy tied to the system's funded status. The committee forwarded it to Council contingent on the administration's cost analysis.
At a glance
- Total mentions
- 2
- Last 30 days
- 2
Discussed at 2 meetings in the last 60 days; most recently Oct 21, 2026.
Impact analysis
The system's funded status was just under 92% as of June 30, so no full permanent COLA would trigger for FY 2028; costs depend on the pending actuarial report.
City retirees who have watched their benefits lose a third of their purchasing power since 2006.
Mentions & discussions (2)
Finance and Economic Development Standing Committee — October 21, 2026
City retirees have lost purchasing power for years because the Richmond Retirement System has granted only three ad hoc COLAs since 2006. The new ordinance sets a transparent, CPI-tied policy tied to the system's funded status. The committee forwarded it to Council contingent on the administration's cost analysis.
City Council — October 5, 2026
A proposed ordinance would establish an annual COLA policy for the Richmond Retirement System, but any actual bump still requires future council funding.
We'll email you when it's on an upcoming agenda and when it's voted on, at most once a day.
The weekly brief for Richmond
What the council decided, in plain English — one email a week.
Free. Unsubscribe with one click any time. We never sell your email.