“Retirant” means any former employee included in the membership of the pension fund established under P.L.1964, c.275, who has retired from such employment and who has or shall have received from the fund a retirement allowance or pension, based upon such employment, for not less than 24 months.

“Employer” means the city in which a pension fund has been created under P.L.1964, c.275.

“Beneficiary” means any beneficiary who has or shall have received a pension or survivorship benefit from the fund for no less than 24 months.

“Calendar year” means the 12-month period beginning January 1 and ending December 31.

“Retirement year” means the calendar year 1988 for all retirants who retired before the calendar year 1989; for all retirants who shall have retired after 1988, “retirement year” is the actual calendar year of retirement.

“Index” means the annual average over a calendar year of the Consumer Price Index for Urban Wage Earners and Clerical Workers, All Items Series A, of the United States Department of Labor (1957-1959=100). Should the reference base of that index be changed, the index used to determine the Consumer Price Index as defined herein will be the index converted to the new base by standard statistical methods.

“Retirement year index” means the index of the calendar year 1988 for all retirants who retired prior to January 1, 1989 and the index for the calendar year of retirement for all retirants who retired thereafter.

L.1990,c.20,s.7.