gtaw, a seismic retrofitting jacket would need to go to the top of the column to be effective at all, and would likely need to be anchored into the cap to be fully effective.
Still looks like an impact absorption cushion to me, used in order to meet the vehicle occupant safety requirements. A barrier that low is supposed to be 10ft in front of the columns in order to not be an unacceptable hazard to the occupants of vehicles, specifically trucks.
It may also serve to protect the columns from failing under impact, although I doubt that would be necessary given the redundancy present with 5 columns supporting the cap.