Published: January 17, 2017
At the January meeting, the Retirement Board determined that there will be no Supplemental COLA payable effective July 1, 2016. According to the July 1, 2015 annual actuarial valuation, the Fund did not meet the requirement mandated in the Charter necessary to pay for the Supplemental COLA, as there were no excess investment earnings on the Retirement Fund in the 2015-2016 fiscal year.
