Public Hearing: YES ☒ NO ☐ Department: Finance - Risk Management
SUBJECT:
Title
Commission District(s): All Commission Districts
Home Rule Ordinance to amend the Pension Code of DeKalb County, Georgia, 1962 Ga. Laws 3088, as amended, to provide for a 2% cost of living increase to specified eligible retirees, joint annuitants and beneficiaries.
Body
Body
Information Contact: Larry Jacobs, Deputy Director/Finance Risk Management
Phone Number: 404-371-2050
PURPOSE:
To consider adopting a home rule ordinance amending the Pension Code of DeKalb County, Georgia, to provide for a 2% cost of living increase to specified eligible retirees, joint annuitants, and beneficiaries.
NEED/IMPACT:
Only one cost of living increase has been provided to retirees (or joint annuitants or beneficiaries) in recent years.
FISCAL IMPACT:
The 2020 estimated cost for the 2% COLA is $2.1 million.
RECOMMENDATION:
Recommended Action
Adopt the attached home rule ordinance for the first time to amend the DeKalb County Pension Code (1962 Ga. Laws 3088, codified in Appendix B of the Code of DeKalb County, Georgia, as amended), to provide for a 2% cost of living increase to specified eligible retirees, joint annuitants, and beneficiaries.