§ 19. Cost-of-Living Increase.

(1)

After the effective date of this act, any member of the Orlando Fire Department who retires with 20 or more years of actual service shall receive a triennial cost-of-living increase of 5 percent starting 3 years after retirement, or, in the case of a DROP participant, 3 years after termination of employment. Any actuarially-determined additional cost resulting from this additional benefit shall be borne by the members of the firefighters pension plan. Members who terminate employment without being eligible for a cost-of-living increase under this section will not be entitled to any refund of the contribution they made to fund this benefit.

(2)

Those persons who are eligible to receive monthly retirement benefits upon the death of a firefighter who was eligible for cost of living increases pursuant to chapter 88-518, chapter 89-459, or chapter 2000-448, Laws of Florida, shall upon the death of the firefighter receive the appropriate percentage of the firefighter's monthly retirement benefit, including the percentage of cost of living increases previously awarded, and shall receive future percentage cost of living increases at the same time the deceased firefighter would have received the cost of living increases but for the death of the firefighter. The cost of living increases percentage previously received by the firefighter and the cost of living increases percentage awarded after the firefighter's death shall be applied to such person's monthly retirement benefit.

(Laws of Fla. ch. 88-518, § 19; Laws of Fla. ch. 89-459, § 19; Laws of Fla. ch. 2000-448, § 2; Laws of Fla. ch. 2008-295, § 19)