Non-Vested $27.50 Supplemental Benefit Resolutions
On March 17, 2003, the Board of Retirement adopted a resolution approving a supplemental, non-vested cash payment in the amount of $27.50 per month to all current and future retirees and their eligible beneficiaries who qualify for the supplemental, vested benefit of $108.44 per month. “Non-vested” means that the benefit is not a guaranteed, lifetime allowance.
Due to the depletion of funds available to pay the non-vested $27.50 supplemental benefit, the Board adopted a resolution on December 10, 2018 terminating the benefit in June 2019. Retirees will receive their final $27.50 payment in their June 30, 2019 benefit payments. Official notice of the benefit termination will be mailed to all affected members in February 2019.