On May 16, 2024, the Quincy Retirement Board unanimously approved the 3% COLA increase which will be effective 7/1/24. In addition, the board also approved an increase in the COLA base to $16,000 effective on 7/1/24. On 7/1/25, the COLA base will increase to $17,000. Finally, on 7/1/26 the COLA base will increase to $18,000. This is great new for our retirees.