5505-7-05 Cost of living benefit.

(A) An annual three percent cost of living benefit shall be added to the pension allowance of a benefit recipient.

(1) A service retirant shall become eligible the later of the first month following the retirant’s fifty-third birthday or the thirteenth month after the benefit commences.

(2) A disability retirant shall become eligible the earlier of the first month following the retirant’s fifty-third birthday or the sixty-first month following the effective date of retirement.

(3) A beneficiary receiving benefits in accordance with section 5505.162 or division (A)(3), (A)(4), (A)(5), (A)(6), or (A)(7) of section 5505.17 of the Revised Code shall become eligible the thirteenth month after the benefit commences.

(4) The pension allowance that a benefit recipient is receiving upon cost of living benefit eligibility shall become the base pension upon which all future cost of living increases are calculated, unless a new base amount is established.

(5) The date of the first cost of living increase shall be the anniversary date for any future cost of living increases.

Effective: 03/27/2006

R.C. 119.032 review dates: 10/01/2010

Promulgated Under: 111.15

Statutory Authority: 5505.07

Rule Amplifies: 5505.174

Prior Effective Dates: 10/1/1996, 12/1/1994, 11/02/1989, 01/01/1986