Effective July 1, 2023, we are pleased to announce that we will provide a Pension Benefit Adjustment (PBA) for eligible retirees who have retired prior to 2018.
A PBA takes effect when a retiree experiences a cumulative change in inflation of at least 20% since their retirement date. The PBA benefit is determined by measuring the change in the Consumer Price Index for all Urban Consumers (CPI-U) from the year of retirement to the effective date of payment.
Those who retired in 2018 and later have not yet become eligible to receive a PBA however, the eligibility for this benefit will be reviewed again next year. The PBA that is payable to retirees will vary depending on the year of retirement.
Remember to monitor retirees.oru.com for updated information regarding your benefit programs or to access retiree self-service options.
Should you have a question related to your pension, retirement or healthcare benefits, please contact the Human Resources Assistance Department at: 1-800-582-5056.
In addition, retirees can also email HR@coned.com at any time with a concern, and your inquiry will be directed to the appropriate team member for processing.