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Effective January 1, 2006, the salary of aldermen shall be $98,125.00. Beginning on May 21, 2007, this sum shall be adjusted for each calendar year by applying to it the rate of inflation calculated based on the Consumer Price Index – Urban Wage Earners and Clerical Workers (Chicago All Items) published by the United States Bureau of Labor Statistics. The budget director or his designee shall determine such rate by comparing the figure for the most recent July with the figure for the previous July. Any adjustment shall take effect at the beginning of the first pay period for that year.
An alderman may choose not to have his or her salary adjusted for any given year as set forth in this section by notifying the budget director in a sworn statement on a form provided by the budget director for that purpose. This notification must be received by the budget director by September 15 for the choice to be effective for the following calendar year.
No other City of Chicago salary shall be allowed any alderman except as herein provided.
(Added Coun. J. 7-29-98, p. 75806; Amend Coun. J. 11-6-02, p. 96511, § 1; Amend Coun. J. 7-26-06, p. 81350, § 1)