Approve 5% pension increase for 3 remaining General Pension Fund retirees

Labor & City WorkersPersonnel

In Plain English

The city has 3 retirees from before 1953 who receive pensions averaging $7,045 per month. Their pensions automatically increase 2% each year by law. The retirees request an additional 3% increase for 2025. If approved, the extra cost is $7,610 and comes from the pension fund.

Auto-generated summary. Source: official agenda documents.