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Needs Review Not Apprvd

Post Retirement Pension Adjustment (PRPA) for 2021

Posted April 6, 2021

Additional Information

  • The statutory authority for the Post-Retirement Pension Adjustment (PRPA) is contained in AS 39.35.475 and AS 14.25.143.
  • The PRPA is determined per statute based on the Anchorage Consumer Price Index (CPI) as calculated by the Federal Bureau of Labor Statistics (BLS).
  • The Anchorage CPI is based on the wages of urban wage earners and clerical workers.
  • Per statute, when the CPI increases, PRPAs are granted. When the CPI decreases, PRPAs are not granted.
  • The Division of Retirement and Benefits does not have the authority to change the Anchorage CPI or the PRPA calculation.
  • According to BLS, the Anchorage CPI decreased 0.179 or 0.0007934% between 2019 and 2020.
  • Therefore, a Post-Retirement Pension Adjustment (PRPA) will not be granted in 2021 (FY22 benefit year).
  • 1987 was the last time the Anchorage CPI dropped and accordingly, a PRPA was not granted that year.

Page Last Modified: 05/12/22 18:53:40

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