§ 40-46-27 — Pension cost of living increase

In July of each year, the city employees' pension board may add, if found actuarially sound,
a cost of living increase to the monthly amounts paid beneficiaries. The total monthly payment

under this section shall not exceed sixty percent of the monthly salary average during the
preceding thirty-six months for the same or comparable position in the city's employment service
as held by the retiree in the last month of the retiree's employment.