§ 605. Cost-of-living increases.

The Board of Trustees is authorized to recommend to the Mayor of the City of Tulsa, Oklahoma, the granting of cost-of-living increases to retired Participants in accordance with Section 1001 hereof.

A.

Amounts. The following are the effective dates and amounts of each increase:

Effective Date of Increase (To be paid initially in the check received one month later)	Amount of Increase
January 1, 1975	3.0%
September 1, 1976	3.0%
September 1, 1977	6.0%
August 1, 1978	6.5%
September 1, 1979	6.5%
September 1, 1980	2.0%
September 1, 1981	3.0%
September 1, 1982	2% or $5.00, if greater
September 1, 1983	2.0%
October 1, 1984	3.0%
September 1, 1985	3.7%
September 1, 1986	1.7% or $5.00, if greater
September 1, 1987	3.7% or $5.00, if greater
July 1, 1989	3.0%
September 1, 1990	3.0%
September 1, 1991	3.0%
April 1, 1994	4.0%
August 1, 1996	2.5%
August 1, 1998	2.5%
September 1, 1999	2% or $5.00, if greater
October 1, 2000	2.25%
August 1, 2001	2.0%
August 1, 2002	1.5%
September 1, 2004	1.5%
January 1, 2006	2.0%
January 1, 2007	1.8%

 

B.

Application. The increases are granted to each retired Participant or beneficiary of a Participant then receiving an income from the Fund and the resulting increased retirement income shall be paid monthly from the Fund. Provided, however:

1.

That the increase effective January 1, 2006, is granted only to retired Participants with a retirement date prior to January 1, 2005, or to the beneficiaries of such retired Participants; and

2.

That the increase effective January 1, 2007, is granted only to retired Participants with a retirement date prior to January 1, 2006, or to the beneficiaries of such retired Participants.

(Ord. Nos. 17389, 17592, 18189, 18782, 19320, 19633, 19914, 20175, 20404, 20908, 21173, 21390)