Non-Vested $27.50 Supplemental Benefit Resolutions

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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 was mailed to all affected members in February 2019.

2003 Board Resolution

2018 Board Resolution

Interest Crediting Policy