Page 254
House Bill No. 5506
Public Act No. 22-118 254 of 739
the trustees on the market value of the pension assets for the preceding fiscal year is less than six and nine-tenths per cent, any cost of living allowance granted shall not exceed one per cent, if such total return for the preceding fiscal year is greater than six and nine-tenths per cent but less than nine and nine-tenths per cent, any cost of living allowance granted shall not exceed three per cent, and if such return exceeds nine and nine-tenths per cent, any cost of living allowance granted shall not exceed five per cent. (m) Repealed by P.A. 07-186, S. 14. (n) Repealed by P.A. 07-186, S. 14. (o) On January 1, 1988, each eligible retired member who had rendered at least twenty-five years of full-time service prior to normal retirement under the provisions of subsection (a) of section 10-183f, or such member's successor beneficiary, as defined in subsection (j) of this section, shall receive a single increase in retirement benefits provided under this chapter. Such increase shall be paid to such eligible members or successor beneficiaries whose monthly benefit as of December 31, 1987, before any reduction for an optional benefit payment plan, is less than eight hundred dollars, and shall be sufficient to increase such monthly benefit to eight hundred dollars. (p) On January 1, 1991, each eligible retired member who had rendered at least twenty-five years of full-time service at least twenty years of which were service in the public schools of Connecticut prior to early retirement before January 1, 1976, under the provisions of subsection (c) of section 10-183f, or such member's successor beneficiary, as defined in subsection (j) of this section, shall receive a single increase in retirement benefits provided under this chapter. Such increase shall be paid to such eligible members or successor beneficiaries whose monthly benefit as of December 31, 1990, before any reduction for an optional benefit payment plan, is less than eight hundred dollars, and