If I retire in the next few months or so and subsequent retroactive pay raises are approved (ie new mc pay bill, OMCE lawsuit), are my retirement benefits reconfigured by the Retirement System?
A. Barring any court imposed terms to the contrary, if you retire and a pay raise is approved retroactive to a date preceding your retirement, you can expect to receive retroactive payment of the raise and recalculation of your retirement benefit. The change to your retirement benefit would be based upon an adjustment to your final average salary resulting from retroactive application of the increase to the biweekly salary payments you received before retiring and (if eligible) to your final lump sum vacation payment.
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