§ 2-77.3. Pension adjustment.

The city council shall direct the retirement board, on a one-time basis only, effective on a date during the calendar year 2008 as determined by the city council, to increase the amount of retired members' annual pensions. The amount of increase shall be determined by the city council. Such increase shall be intended to account for changes in the cost of living and shall be applied to such members' annual pensions as the city council shall determine and in such manner as the city council shall determine. Such increase shall be applied to the annual pension benefits paid to a deceased member's spouse or beneficiary receiving pension payments if the city council so determines.

(Ord. of 3-11-08)