A. In addition to the allowances payable under this chapter, post-retirementsupplements shall be payable to the recipients of such allowances.Supplements shall be subject to the same conditions of payment as areallowances.
B. The amounts of the post-retirement supplements shall be determined aspercentages of the allowances supplemented hereby. The percentages shall bedetermined annually by reference to the increase in the United States AverageConsumer Price Index for all items, all urban consumers (CPI-U), as publishedby the Bureau of Labor Statistics of the United States Department of Labor.The percentages shall be based on monthly averages and shall be thedifference between (i) the average for the calendar year just ended and (ii)the average for the most recent calendar year used in the determination ofthe post-retirement supplements currently being paid. The annual increase, ifany, in the CPI-U shall be considered only to the extent of the first threepercent plus one-half of the next four percent of any additional increase, ora maximum increase in the post-retirement supplement of five percent in anygiven year. However, for a person who becomes a member on or after July 1,2010, the annual increase in the Consumer Price Index shall be consideredonly to the extent of the first two percent plus one-half of the next eightpercent of any additional increase, or a maximum increase in thepost-retirement supplement of six percent in any given year. If thedifference in the percentages determined above is zero or less, thepost-retirement supplements shall either not commence or shall continueunchanged until such time as an annual determination results in a differencein the percentages that are greater than zero.
Contribution rates for all employers shall include an amount equal to 100percent of the total annual amount necessary to fund all post-retirementsupplements. All contribution rates shall be computed in accordance withrecognized actuarial principles on the basis of methods and assumptionsapproved by the Board.
C. There shall be no change in the amount of any post-retirement supplementbetween determination dates except as necessary to reflect changes in theamount of the allowance being supplemented. The post-retirement supplementshall remain a constant percentage of the respective allowance beingsupplemented. No new post-retirement supplement shall be commenced except asof a determination date. The post-retirement supplement determined as of anydetermination dates shall become effective at the beginning of the fiscalyear and shall be in lieu of any post-retirement supplements previouslypayable, which shall thereupon be terminated.
D. Any recipient of an allowance which initially commenced on or prior toJanuary 1, 1990, shall be entitled to post-retirement supplements effectiveJuly 1, 1991. Any recipient of an allowance must receive that allowance forone full calendar year before being entitled to post-retirement supplements.
(1970, c. 476, § 51-111.60:1; 1977, c. 620; 1980, c. 163; 1982, c. 467; 1987,cc. 13, 14; 1990, c. 832; 1991, c. 719; 1996, c. 1030; 2010, cc. 737, 738,752.)
A. In addition to the allowances payable under this chapter, post-retirementsupplements shall be payable to the recipients of such allowances.Supplements shall be subject to the same conditions of payment as areallowances.
B. The amounts of the post-retirement supplements shall be determined aspercentages of the allowances supplemented hereby. The percentages shall bedetermined annually by reference to the increase in the United States AverageConsumer Price Index for all items, all urban consumers (CPI-U), as publishedby the Bureau of Labor Statistics of the United States Department of Labor.The percentages shall be based on monthly averages and shall be thedifference between (i) the average for the calendar year just ended and (ii)the average for the most recent calendar year used in the determination ofthe post-retirement supplements currently being paid. The annual increase, ifany, in the CPI-U shall be considered only to the extent of the first threepercent plus one-half of the next four percent of any additional increase, ora maximum increase in the post-retirement supplement of five percent in anygiven year. However, for a person who becomes a member on or after July 1,2010, the annual increase in the Consumer Price Index shall be consideredonly to the extent of the first two percent plus one-half of the next eightpercent of any additional increase, or a maximum increase in thepost-retirement supplement of six percent in any given year. If thedifference in the percentages determined above is zero or less, thepost-retirement supplements shall either not commence or shall continueunchanged until such time as an annual determination results in a differencein the percentages that are greater than zero.
Contribution rates for all employers shall include an amount equal to 100percent of the total annual amount necessary to fund all post-retirementsupplements. All contribution rates shall be computed in accordance withrecognized actuarial principles on the basis of methods and assumptionsapproved by the Board.
C. There shall be no change in the amount of any post-retirement supplementbetween determination dates except as necessary to reflect changes in theamount of the allowance being supplemented. The post-retirement supplementshall remain a constant percentage of the respective allowance beingsupplemented. No new post-retirement supplement shall be commenced except asof a determination date. The post-retirement supplement determined as of anydetermination dates shall become effective at the beginning of the fiscalyear and shall be in lieu of any post-retirement supplements previouslypayable, which shall thereupon be terminated.
D. Any recipient of an allowance which initially commenced on or prior toJanuary 1, 1990, shall be entitled to post-retirement supplements effectiveJuly 1, 1991. Any recipient of an allowance must receive that allowance forone full calendar year before being entitled to post-retirement supplements.
(1970, c. 476, § 51-111.60:1; 1977, c. 620; 1980, c. 163; 1982, c. 467; 1987,cc. 13, 14; 1990, c. 832; 1991, c. 719; 1996, c. 1030; 2010, cc. 737, 738,752.)
A. In addition to the allowances payable under this chapter, post-retirementsupplements shall be payable to the recipients of such allowances.Supplements shall be subject to the same conditions of payment as areallowances.
B. The amounts of the post-retirement supplements shall be determined aspercentages of the allowances supplemented hereby. The percentages shall bedetermined annually by reference to the increase in the United States AverageConsumer Price Index for all items, all urban consumers (CPI-U), as publishedby the Bureau of Labor Statistics of the United States Department of Labor.The percentages shall be based on monthly averages and shall be thedifference between (i) the average for the calendar year just ended and (ii)the average for the most recent calendar year used in the determination ofthe post-retirement supplements currently being paid. The annual increase, ifany, in the CPI-U shall be considered only to the extent of the first threepercent plus one-half of the next four percent of any additional increase, ora maximum increase in the post-retirement supplement of five percent in anygiven year. However, for a person who becomes a member on or after July 1,2010, the annual increase in the Consumer Price Index shall be consideredonly to the extent of the first two percent plus one-half of the next eightpercent of any additional increase, or a maximum increase in thepost-retirement supplement of six percent in any given year. If thedifference in the percentages determined above is zero or less, thepost-retirement supplements shall either not commence or shall continueunchanged until such time as an annual determination results in a differencein the percentages that are greater than zero.
Contribution rates for all employers shall include an amount equal to 100percent of the total annual amount necessary to fund all post-retirementsupplements. All contribution rates shall be computed in accordance withrecognized actuarial principles on the basis of methods and assumptionsapproved by the Board.
C. There shall be no change in the amount of any post-retirement supplementbetween determination dates except as necessary to reflect changes in theamount of the allowance being supplemented. The post-retirement supplementshall remain a constant percentage of the respective allowance beingsupplemented. No new post-retirement supplement shall be commenced except asof a determination date. The post-retirement supplement determined as of anydetermination dates shall become effective at the beginning of the fiscalyear and shall be in lieu of any post-retirement supplements previouslypayable, which shall thereupon be terminated.
D. Any recipient of an allowance which initially commenced on or prior toJanuary 1, 1990, shall be entitled to post-retirement supplements effectiveJuly 1, 1991. Any recipient of an allowance must receive that allowance forone full calendar year before being entitled to post-retirement supplements.
(1970, c. 476, § 51-111.60:1; 1977, c. 620; 1980, c. 163; 1982, c. 467; 1987,cc. 13, 14; 1990, c. 832; 1991, c. 719; 1996, c. 1030; 2010, cc. 737, 738,752.)
