| 3. Eligibility. Cost-of-living adjustments under this |
section must be applied to the retirement benefits of all |
retirees who have been retired for at least 12 months before the |
date that the adjustment becomes payable, except that a member |
who has less than 10 years of creditable service on July 1, 1993 |
may not receive a cost-of-living adjustment until at least 12 |
months after reaching normal retirement age. Beneficiaries of |
deceased retirees and members are eligible for the cost-of-living |
adjustment at the same time the deceased retiree or member would |
have become eligible. A member who is eligible to retire as of |
June 30, 1993 and who actually retires effective no later than |
July 1, 1994 is eligible for the cost-of-living adjustment if |
that member has been retired for at least 6 months before the |
date that the adjustment becomes payable. |