The current Consumer Price Index (CPI) is 1.16%, which means that unless there is a change in COLA policy retirees likely will not get a COLA for 2018. Currently, PSRS/PEERS needs a 7.75% rate of return on their investments to fund the system. The last reported rate of return they are receiving is 8.8%. It is MRTA’s opinion that a policy change is feasible. Below is a copy of the letter MRTA Executive Director Jim Kreider mailed to the Chairman of the PSRS/PEERS Board of Trustees Aaron Zalis and PSRS/PEERS Executive Director Steve Yoakum on May 18, 2017.