Beginning July 1, 1997, the retirees and beneficiaries benefit shall annually be adjusted by the addition of both (a) and (b):
a) Previous monthly benefit multiplied by 1.5%; and,
b) An additional dollar amount based on the following incremental steps:
$35 - retired at least 20 years
$30 - retired at least 15, but less than 20 years
$25 - retired at least 10, but less than 15 years
$20 - retired at least 5, but less than 10 years
$15 - retired less than five years
Terminated–Vested members are not eligible for the escalator.
For more information concerning the escalator, please view the Member Benefit Handbook which can be found on MPFRSI's Publications page.