Reso No.____
RESOLUTION NO. ____
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 2025
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 annually increase 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 for 2025 by an additional three percent (3%) over the minimum annual increase of two percent (2%) for a 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 202 5 of three p ercent (3%) for recipients of the General Pension Fund which brings the total cost of living increase to five percent (5%) is hereby approved.
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Reso No.____
I certify that the foregoing resolution was passed and adopted by the Council of the City of Richmond at a regular meeting thereof held _______________, by the following vote:
AYES:
NOES:
ABSTENTIONS:
ABSENT:
CLERK OF THE CITY OF RICHMOND
(SEAL)
Approved:
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 City Council of the City of Richmond at a regular meeting held on ____________.