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AN ORDINANCE TO AI4END THE <br />1973, BY P~[ENDING SECTION <br />~TIREMENT ALLOWANCES. <br /> <br />CODE OF THE CITY OF PORTSMOBTIi, VIRGINIA, <br />31-68 THEREOF PERTAINING TO ADDITIONAL <br /> <br /> Be it ordained by the Council of the City of Portsmouth~ <br />Virginia: <br /> <br /> 1. That the Code of the City of <br />1973, be amended by amending Section 31-68 <br />section to read as follows: <br /> <br />Portsmouth~ Virginia, <br />thereof, such amended <br /> <br />Section 31-68. Additional retirement allowance. <br /> <br /> Any person receiving a retirement allowance under sections <br />31-63, 31-65, 3t-67, 31-70(b) or section 31-74 shall receive an ad- <br />ditional allowance to reflect any adjusumenes in the United States <br />Average Consumer Price. Index for all items, as published by the <br />Bureau of Labor Statistics of the United States Deeartment of Labor, <br />that may have taken place since the member's death or retire~ent~ <br />whichever first occurred. Such additional allowance shall be de- <br />termined as a percentage of the retirement allowance that would <br />have been payable in the absence of this section and shall be sub- <br />jec~ to the same conditions of paymen~ as are applicable to such <br />retirement aliowance~ with such percentage being computed as the <br />percentage increase mn said consumer price index from its monthly <br />average for the calendar year in which the member's death or re- <br />tirement occurred to its monthly average for the calendar year im- <br />mediately prior to the calendar year as of which the amount of the <br />additional allowance is bein9 determined. Any additional allowance <br />provided under this section shall be determined on a fiscal year <br />basis only, as of each July 1, and no such additional allowance <br />shall be paid to. any person prior to the July 1 next following the <br />expiration of a period of twelve (12) months after the member's <br />death or retirement, whichever first occurred. In no case shall <br />the operation of this section result in a reduction in the amount <br />of any person's total benefit below the amount of the retirement <br />allowance that would have been payable in the absence of this <br />section. <br /> <br />2. This ordinance shall take effect from the date of its <br /> <br />passage. <br /> <br /> Adopted by the Council of the City of Portsmouth~ Vir- <br />ginia, a% a meeting held August 27, t974. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />