MRF COLA Effective 1/1/25
November 22, 2024
MRF Announces 1.5% COLA Increase and Dues Updates Effective 1/1/25
The Board of Commissioners has approved a 1.5% Cost-of-Living Adjustment (COLA) for all current and future retirees of the Magistrates Retirement Fund of Georgia. This adjustment ensures the fund continues to provide valuable support to its members while reflecting changes in economic conditions.
Key Highlights of the Update
- Retiree Benefits: Current retirees will see the 1.5% COLA increase reflected in their payment issued at the end of January 2025.
- Active Member Updates: The salary caps for active members have also increased by 1.5%. Monthly dues, which are calculated at 3.42% of the salary cap, will adjust accordingly.
Dues Payment Updates
With the recent updates, active members are reminded to ensure their dues payments are made on time using one of the following methods:
- ACH Deduction: For members whose dues are automatically remitted via ACH, any necessary updates to the amount will be applied for the January 2025 automatic withdrawal.
- Check, Money Order, or County Payment Option: Members paying by check, money order, or through county payroll deduction must note the updated dues amount and remit accordingly. For check or money order payments, ensure your full name and member number are included, and that payments are received by the 10th of each month.
Important Reminder: Annual Salary Affidavits
For active members who serve as part-time Chief Magistrates or as both Chief Magistrates and Probate Judges of their county, it is essential to submit an updated annual salary affidavit. This document helps the fund ensure accuracy in calculating your dues.
Deadline for Submission: March 30, 2024
Members can submit the completed affidavit via the following methods:
- Mail: 1208 Greenbelt Drive, Griffin, GA 30224
- Fax: 770-412-1236
- Email: [email protected]
Once received, the Dues Team will review your affidavit and notify you if any updates are required.