§ 2.28.160. Post retirement adjustment.

(a)

For employees under Plan No. 1: Those employees who have retired for any reason under Plan No. 1 shall, upon completion of twelve months of retirement, have the retirement benefit payable to such retired employee, increased by an amount each year equal to three percent of the original retirement benefit.

(b)

For employees under Plan No. 2: Those employees who have retired for any reason under Plan No. 2 shall, upon completion of twelve months of retirement, have the retirement benefit payable to such retired employee, increased by an amount each year equal to two percent of the original retirement benefit.

(Ord. No. 44-812 § 17; Ord. No. 47-451, § 6, 3-27-07)