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Directory
home Under Florida law, e-mail addresses are public
records. If you do not want your e-mail address released in response to a
public-records request, do not send electronic mail to this entity. Instead,
contact this office by phone or in writing. |
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Beginning October 1, 2000, the Plan allows for an annual guaranteed Cost of Living Adjustment (COLA) equal to two percent (2%) payable on October 1, plus an additional, variable COLA equal to up to one percent (1%) if Plan earnings are sufficient (as certified by the Plan’s actuary). The COLA is payable to each Retiree who has been retired for at least one year at the time of COLA payment (October 1). All retirees and their beneficiaries are eligible for the COLA once they have been retired for one year. All COLA’s will be paid on October 1 and will be payable to each Retiree who has been retired for at least one year as of that respective October 1. Once a Retiree has reached his/her first anniversary of retirement, such Retiree will be granted an annual COLA effective on the first retirement anniversary date, but payable on the next October 1. Example: Normal Retirement Date = March 1, 2008 First anniversary of retirement = March 1, 2009 First COLA is payable October 1, 2009, but with retroactive COLA increase due for March 1, 2009 – September 30, 2009. In the event the Plan is not sufficiently funded in any one year to provide the additional, variable one percent increase, a retroactive variable COLA will be provided in subsequent years when the Plan is once again sufficiently funded (as certified by the Plan’s actuary). |
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