RESOLUTION NO. XX-22
A RESOLUTION OF THE COUNCIL OF THE CITY OF RICHMOND,
CALIFORNIA, AUTHORIZING THE ADDITIONAL ANNUAL COST OF LIVING INCREASE FOR RECIPIENTS OF THE GENERAL PENSION FUND FOR 2023
WHEREAS, on November 6, 1984, the voters of the City of Richmond approved Charter Amendments “K” and “L” providing (1) a minimum pension amount of Five Hundred Dollars per month to retired employees or to their eligible dependents; (2) an annual increase of two percent (2%) in their benefits commencing January 1, 1985; and (3) authorization for the City Council to increase annually said benefits by an additional amount of up to three percent (3%) commencing January 1, 2000; and
WHEREAS, the participating members of the General Pension Fund have requested the cost of living increase by additional three percent (3%) from the original annual increase of two percent (2%); and
WHEREAS, the total cost of living increase as of January 2023 will be total of five percent (5%).
NOW, THEREFORE, BE IT RESOLVED, by the Council of the City of Richmond that the additional annual increase for the year 2023 of three percent (3%) for recipients of the General Pension Fund which brings the total cost of living increase to five percent (5%) hereby approved.
********************
I certify that the foregoing resolution was passed and adopted by the Council of the City of Richmond at a regular meeting thereof held November 1, 2022, by the following vote:
AYES:
NOES:
ABSTENTIONS:
ABSENT:
CLERK OF THE CITY OF RICHMOND
(SEAL)
Approveded:
Mayor
Approved as to form:
City Attorney
State of California }
County of Contra Costa : ss.
City of Richmond }
I certify that the foregoing is a true copy of Resolution No. _____ finally passed and adopted by the Council of the City of Richmond at a regular meeting held on November 1, 2022.
Pamela Christian, Clerk of the City of Richmond
Reso. No.
_____
of 1