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2019 Ordinances
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12/13/2019 9:07:10 AM
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1/10/2019 4:16:58 PM
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EXHIBIT A <br />INTERPRETATION: Additions are shown by double underlines Sections of Article <br />II and Article III of Chapter 30 not shown hereon are not hereby amended. <br />ARTICLE II. — PORTSMOUTH SUPPLEMENTAL RETIREMENT SYSTEM <br />DIVISION 5. — BENEFITS <br />Sec. 30 -122. - Adjustments of retirement allowance. <br />Any person receiving a retirement allowance under sections 30 -117, 30 -119, 30 -121, <br />30- 124(b), or section 30 -128, shall, upon the annual prior approval of city council, <br />receive an adjustment of retirement allowance as of July 1, each year, in an amount to be <br />approved by the city council. The amount of the adjustment shall be determined as a <br />percentage of the retirement allowance being received, including in percentage of the <br />retirement allowance being received, including in percentage adjustments approved in <br />prior years. Such adjustments shall be subject to the same conditions of payment as are <br />applicable to the retirement allowance. In no case shall the operation of this section result <br />in a reduction in the amount of any person's total amount below the amount of the <br />retirement allowance that would have been payable in the absence of this section. <br />Notwithstanding the foregoing, in no event shall city council approve or authorize <br />adjustments to retirement allowances unless the Portsmouth Supplemental Retirement <br />System is funded at no less than 80 percent of the actuarial accrued liability. <br />ARTICLE III. — PORTSMOUTH FIRE AND POLICE RETIREMENT SYSTEM <br />DIVISION 5. — BENEFITS <br />Sec. 30 -243. - Adjustments of retirement allowance. <br />Any person receiving a retirement allowance under sections 30 -237, 30 -239, 30 -241, <br />30- 244(c), or section 30 -247 shall, upon the annual prior approval of city council, receive <br />an adjustment of retirement allowance as of July 1, each year, in an amount to be <br />approved by the city council. The amount of the adjustment shall be determined as a <br />percentage of the retirement allowance being received, including any percentage <br />adjustments approved in prior years. Such adjustments shall be subject to the same <br />conditions of payment as are applicable to the retirement allowance. In no case, shall the <br />operation of this section result in a reduction in the amount of any person's total benefit <br />below the amount of the retirement allowance that would have been payable in the <br />absence of this section. Notwithstanding the foregoing, in no event shall city council <br />approve or authorize adjustments to retirement allowances unless the Portsmouth Fire <br />
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