Page:United States Statutes at Large Volume 111 Part 1.djvu/743

 PUBLIC LAW 105-33—AUG. 5, 1997 111 STAT. 719 in the price index for the preceding year indicates a rise in the price index, each annuity having a commencing date on or before March 1 of the year shall, effective March 1 of the year, be increased by an amount equal to— "(i) in the case of an annuity having a commencing date on or before March 1 of such preceding year, the per centum change computed under paragraph (2), adjusted to the nearest Vio of 1 per centum; or "(ii) in the case of an annuity having a commencing date after March 1 of such preceding year, a pro rata increase equal to the product of— "(I) ^12 of the per centum change computed under paragraph (2), multiplied by "(II) the number of months (not to exceed 12 months, counting any portion of a month as an entire month) for which the annuity was payable before the effective date of the increase, adjusted to the nearest Vio of 1 per centum. "(B) On January 1, 1998 (or within a reasonable time thereafter), the Mayor shall determine the per centum change in the price index published for December 1997 over the price index published for June 1997. If such per centum change indicates a rise in the price index, effective March 1, 1998— "(i) each annuity having a commencing date on or before September 1, 1997, shall be increased by an amount equal to such per centum change, adjusted to the nearest Vio of 1 per centum; and "(ii) each annuity having a commencing date after September 1, 1997, and on or before March 1, 1998, shall be increased by a pro rata increase equal to the product of— "(I) Ve of such per centum change, multiplied by "(II) the number of months (not to exceed 6 months, counting any portion of a month as an entire month) for which the annuity was payable before the effective date of the increase, adjusted to the nearest Vio of 1 per centum.". (b) PROGRAM FOR TEACHERS.—Section 21(b) of the Act entitled "An Act for the retirement of public-school teachers in the District of Columbia", approved August 7, 1946 (DC Code, sec. 31-1241(b)) is amended— (1) in paragraph (1), by striking 'The Mayor shall—" and all that follows and inserting the following: "On January 1 of each year (or within a reasonable time thereafter), the Mayor shall determine the per centum change in the price index for the preceding year by determining the difference between the index published for December of the preceding year and the index published for December of the second preceding year."; and (2) by amending paragraph (2) to read as follows: "(2)(A) If (in accordance with paragraph (1)) the Mayor determines in a year (beginning with 1999) that the per centum change in the price index for the preceding year indicates a rise in the price index, each annuity having a commencing date on or before March 1 of the year shall, effective March 1 of the year, be increased by an amount equal to— "(i) in the case of an annuity having a commencing date on or before March 1 of such preceding year, the per centum

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