Johnny Frazier v. City of Chattanooga, Tenn.

OPINION

ROGERS, Circuit Judge.

The City of Chattanooga amended the cost-of-living adjustment in its Fire and Police Pension Fund in 2000 to create a fixed three-percent annual increase in retirement benefits. The city amended the COLA again in 2014 to a lower, variable annual increase. Four Fund participants— Johnny Frazier, Reuben ■ Salter, • William Melhorn, Jr., and Janies Gaston—chal-lenged the 2014 amendment under the Contract Clause of the United States Constitution, claiming a right to the fixed three-percent COLA. The district court held that the- retirees have no such right and granted…