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INTRODUCED BY: Mr. Sharpe, Jr. DATE: January 15, 2008 BILL NO. 8978 ORDINANCE NO. 6731 AN ORDINANCE AMENDING CHAPTER 2.64 OF THE UNIVERSITY CITY MUNICIPAL CODE, RELATING TO NONUNIFORMED EMPLOYEES RETIREMENT SYSTEM, BY REPEALING SECTION 2.64.230 THEREOF, RELATING TO INCREASE IN MONTHLY BENEFITS, AND ENACTING IN LIEU THEREOF A NEW SECTION TO BE KNOWN AS "SECTION 2.64.230 INCREASE IN MONTHLY BENEFITS," THEREBY AMENDING SAID SECTION SO AS TO INCREASE THE MONTHLY BENEFITS TO ALL RETIREES WHO RETIRED PRIOR TO JANUARY 1, 2007, BY TWENTY FIVE DOLLARS ($25), EFFECTIVE JULY 1,2007. BE IT ORDAINED BY THE COUNCIL OF THE CITY OF UNIVERSITY CITY, MISSOURI, AS FOLLOWS: Section 1. Chapter 2.64 of the University City Municipal Code, relating to nonuniformed employees retirement system, is hereby amended by repealing Section 2.64.230 thereof, relating to increase in monthly benefits, and enacting in lieu thereof a new section to be known as "Section 2.64.230 Increase in monthly benefits;" so that said section, as so amended, shall read as follows: 2.64.230 Increase in monthly benefits. A. All retirees and beneficiaries shall continue to receive the increases in monthly benefits previously authorized by ordinance. Said increases are as follows: 1. Effective February 23, 1987, a monthly increase of ten percent (10%) to retirees who retired prior to September 1, 1981, and to beneficiaries whose spouses retired prior to September 1, 1981, provided such retirees and beneficiaries were receiving benefits as of February 23, 1987; 2. Effective January 1, 1990, a monthly increase of ten dollars ($10) to all retirees who retired prior to January 1, 1989, and to their beneficiaries, provided such retirees and beneficiaries were receiving benefits as of January 1, 1990; 3. Effective December 1992, a monthly increase of twenty-five dollars ($25) to all retirees who retired prior to July 1, 1991, and to their beneficiaries other than children, provided such