February 20, 2025 To: Board of Retirement Subject: COST-OF-LIVING . . . The County Employees Retirement Law of 1937 (CERL) requires the Board to determine each year before April 1 whether there has been an increase or decrease in the cost of living as indicated by the Bureau of Labor Statistics Consumer Price Index (CPI) for All Urban Consumers for the San Diego-Carlsbad Area In accordance with CERL, all retired members’ and beneficiaries’ retirement benefits