The cost-of-living increase that California public employees who retired between 2006 and 2014 will receive in their pensions, the largest inflation adjustment in 32 years. Most other California Public Employees’ Retirement System (CalPERS) retirees will receive either a 2 percent or an increase between 2 and 4.7 percent, depending on their retirement year. About 750,000 retirees and beneficiaries receive pensions from CalPERS.
