A retiree who first became a member on or before December 5, 2016, or a beneficiary of a retiree who first became a member on or before December 5, 2016, is entitled to receive an annual increase in his or her monthly benefit equal to the percentage increase in the annual earnable compensation authorized for the highest-paying elected official position held by the retiree while a member. If the position of an elected official is abolished and a replacement position is created, percentage increases in the annual earnable compensation authorized for the replacement position will be used to calculate increases in monthly benefits under subparagraph (i) of this paragraph. If the position of an elected official is abolished and a replacement position is not created, percentage increases in the annual earnable compensation authorized for the position of Mayor of the City of Baltimore will be used to calculate increases in monthly benefits under subparagraph (i) of this paragraph. A retiree who first became a member on or after December 6, 2016, or a beneficiary of a retiree who first became a member on or after December 6, 2016, is entitled to receive an annual increase in his or her monthly benefit equal to the greater of:1.5%, or the amount of any corresponding post-retirement benefit increase provided by the Fire and Police Employees’ Retirement System of the City of Baltimore to its members. A retiree who first began receiving retirement benefits on or before February 1, 2017, or a beneficiary of a retiree who first began receiving retirement benefits on or before February 1, 2017, will receive the benefit increase beginning in January of the year following the year in which his or her retirement benefits began. A retiree who first began receiving retirement benefits on or after March 1, 2017, or a beneficiary of a retiree who first began receiving retirement benefits on or after March 1, 2017, is eligible for the benefit increase as of the 1^st June 30 as of which the retiree and the beneficiary, whether individually or in combination with the other, have been receiving benefit payments for at least 12 consecutive months. A retiree who first began receiving retirement benefits on or after March 1, 2017, or a beneficiary of a retiree who first began receiving retirement benefits on or after March 1, 2017, will receive the benefit increase beginning in January of the year following the June 30 on which he or she became eligible under subparagraph (i) of this paragraph (2). each benefit increase will continue for the lifetime of the retiree and any beneficiary, consistent with the option elected under § 22(e) of this subtitle. the benefit increases provided by this section are effective regardless of the investment performance of this System. the benefit increases provided by this section are payable in the same form as the post-retirement benefit payments being received by the eligible retiree or beneficiary. Ord. 16-576