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Rules Committee backs sending charter fix to restore supplemental COLA for pre‑1996 retirees to the full Board
Summary
The Rules Committee voted to forward a charter amendment to the full Board that would remove the 1996-era full‑funding requirement and allow a supplemental cost‑of‑living adjustment for retirees who retired on or before Nov. 6, 1996. The Controller estimated about $15 million annually during early years; advocates urged ballot placement in November.
Supervisor Asha Safaei introduced a charter amendment to restore supplemental cost‑of‑living adjustments for members of the San Francisco Employees’ Retirement System who retired on or before Nov. 6, 1996, and to impose a monthly cap and economic benchmarks when the retirement system is not fully funded. Safaei said the amendment would return a benefit taken from that cohort after a 2015 Court of Appeal decision and emphasized the…
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