Sec. 121.302. - Retirement benefit adjusted.

Retirees and participants receiving survivor's benefits which commenced prior to January 1, 1990, shall have their monthly payments increased effective the first distribution in January 1990, according to the following formula: Years of Credit Service Percentage Increases Times Years Retired Less than 20 1% 20 but less than 30 2% 30 or more 3%   Years retired, as used in this Part, means the year 1990 minus the year of retirement; provided, however, persons retiring in 1989 will be credited with one full year's benefits. Revised payments shall remain in effect according to the applicable form of payment. (Ord. 90-916-463, § 1; Ord. 90-1265-565, § 1; Ord. 93-1773-1045, § 2; Ord. 97-340-E, § 6; Ord. 2017-259-E , § 1)