Annuity increase.
The annuity of each retired employee, who on August 1, 1958, is receiving or is entitled to receive an annuity from the District of Columbia Teachers’ Retirement and Annuity Fund based on service which terminated prior to October 1, 1956, shall be increased by 10%, but no such increase shall exceed $500 per annum. The annuity otherwise payable from the District of Columbia Teachers’ Retirement and Annuity Fund to: (1) each survivor who on August 1, 1958, is receiving or entitled to receive an annuity based on service which terminated prior to October 1, 1956; and (2) each survivor of a retired employee described in subsection (a) of this section shall be increased by 10%. No increase provided by this subsection shall exceed $250 per annum. No increase provided by this section shall be computed on any additional annuity purchased at retirement by voluntary contributions.
Annotations
Sept. 2, 1958, 72 Stat. 1768, Pub. L. 85-917, § 1 1973 Ed., § 31-741. 1981 Ed., § 31-1247. This section is referenced in § 38-2023.03 and § 38-2023.04.
Sourced from the DC Council Open Law Library (public domain).
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