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(b) The amount of annuity increase under this Section <br />is computed as the sum of the prior and current service <br />annuities on the effective date of retirement of the person <br />on whose service the annuities are based, multiplied by 70% <br />of the percentage change in Consumer Price Index for All <br />Urban Consumers, from December of the year immediately <br />proceding the effective date of the person's retirement to <br />the December that is 13 months before the effective date of <br />this ordinance. <br />(c) An increase in an annuity that was reduced because <br />of an option selection is reducible in the same proportion <br />arid in the same manner that the original annuity was <br />reduced. <br />(d) If a computation hereunder does not result in an <br />increase in the amount of an annuity, the amount of the <br />annuity will not be changed hereby. <br />(e) The amount by which an increase under this Section <br />exceeds al1 previously granted increases to an annuitant is <br />an obligation of this City and of its account in the munic- <br />ipality accumulation fund of the Texas Municipal Retirement <br />System. <br />Section 3. Effective Date. <br />Subject to approval by the Board of Trustees of Texas <br />Municipal Retirement System, the updated service credits and <br />increases in retirement anr_uities granted hereby shall be <br />and become effective on the lst day of January, 1989. <br />Passed and adopted this 12th day of September, 1988. <br />ATTEST: <br />Mattie Cunningham, Cit erk <br />APPROVED AS FORM: <br />. K, aynes, ity Attorney <br />