How will a DRO affect a retired members entitlement to cost-of-living adjustments?
Pursuant to Administrative Code ยง13-696 there is a cost-of-living adjustments (COLA) on the first $18,000 of a retired member’s retirement benefit. The COLA is paid to all retired members who have attained age sixty-two and have been retired for five years; all retired members who have attained age fifty-five and have been retired for ten years; all members who retired for disability regardless of age who have been retired for five years; and all recipients of an accidental death benefit regardless of age who have been receiving such benefit for five years. As a general matter, when a DRO requires the Fund to pay a percentage of the retiree’s benefit to an alternate payee, the Fund will use the same percentage to pay the alternate payee a share of any COLA adjustments as well, unless the DRO expressly provides that the alternate payee is not to share in the COLA adjustments. On the other hand, as a general matter, when the DRO requires the Fund to pay a specific dollar amount to the al
