Updated October 30, 2026. Quick answer: The San Bernardino County Employees’ Retirement Association (SBCERA) may apply a COLA on April 1 each year based on the regional CPI, rounded to the nearest half percent and never above 2%, with excess CPI banked. On January 8, 2026 the Board of Retirement approved the maximum 2.0% for 2026. The four years before were 2.00% (2022, 2023 and 2024) and 1.00% (2025). No 2027 COLA has been approved yet.
The rule in the member guide
The SBCERA Member Guide says: “SBCERA may apply a cost-of-living adjustment (COLA) on April 1 of each year based the regional Consumer Price Index (CPI) as of January 1 of that year, not to exceed 2%.” On eligibility: “To be eligible for the annual COLA, you must retire on or before April 1.” On the bank: “If the CPI is more than 2%, the amount above 2% is rounded to the nearest half percent, and that percentage is placed in your COLA bank”.
Rounding and the cap
The COLA page states: “The COLA is always rounded to the nearest one-half percent and will never exceed 2 percent.” It also describes the usual process: “Typically, each year the Board of Retirement reviews and approves any applicable COLA at its February Board meeting.”
The 2026 COLA
SBCERA’s COLA page records the vote: “On Thursday, January 8, 2026, the SBCERA Board of Retirement approved a 2.0% cost-of-living adjustment (COLA) for all SBCERA retirees and eligible beneficiaries.” It gives the index reading: “The Bureau of Labor Statistics Consumer Price Index for All Urban Consumers, for the Riverside-San Bernardino-Ontario area as of November 30, 2025, was 4.50%.” The two index values printed are 138.851 for November 2025 and 132.853 for November 2024; 138.851 divided by 132.853 is 1.0451, a rise of 4.5%. The Board’s news post adds: “Retirees and eligible beneficiaries with a benefit effective date on or before April 1, 2025 have at least 2.5% in their respective accumulated COLA banks and will receive an increase of 2%.”
Recent COLAs as SBCERA lists them
SBCERA’s Recent COLAs table shows 2.00% for 2022, 2.00% for 2023, 2.00% for 2024 and 1.00% for 2025, followed by the 2.0% approved for 2026.
What the documents do not say
The guide measures CPI as of January 1, while the COLA page computes the 2026 figure from November 2025 over November 2024; the sources do not explain the difference. No Board minutes for the January 8 vote were archived, so the vote rests on SBCERA’s own COLA page and news post.
Where 2027 stands
No 2027 SBCERA COLA is set: the Board reviews any COLA at its February meeting, and the COLA page lists no 2027 row.
Common mistakes
- Expecting a retiree to get the full CPI change. The COLA never exceeds 2%, and the excess goes into the bank.
- Assuming a retirement date after April 1 earns the current year’s COLA. A member must retire on or before April 1.
- Reading the 4.5% CPI change as the COLA. The 2026 COLA was 2.0%.
Related: SBCERA retirement decisions, how public pension decisions work, and whether California taxes pensions.
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Answer againSources
- SBCERA, SBCERA Member Guide (Summary Plan Description), revised February 2025: www.sbcera.org
- SBCERA, Cost-of-Living Adjustments (COLA) page with 2026 COLA and Recent COLAs table: www.sbcera.org
- SBCERA, 2026 Cost-of-Living Adjustment (COLA) news post: www.sbcera.org
- Related official page (not quoted): IRS Tax Topic 410, Pensions and annuities: www.irs.gov
- Related official page (not quoted): IRS Tax Topic 411, Pensions: the General Rule and the Simplified Method: www.irs.gov
Read from the primary documents linked above on October 30, 2026. General information, not tax advice. Your own facts decide the outcome, and a preparer or the IRS itself is the right place to confirm anything consequential.