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New Jersey Statutes, Title: 43, PENSIONS AND RETIREMENT AND UNEMPLOYMENT COMPENSATION
Chapter 15a: Extension to governmental units having no retirement system
Section: 43:15a-61.2: Increase of retirement allowance under subsection b. of C.43:15A-61 and C.43:15A-50.
15. The retirement allowance of each retiree under subsection b. of section 61 of P.L.1954, c.84 (C.43:15A-61), or the retiree's beneficiary pursuant to section 50 of P.L.1954, c.84 (C.43:15A-50), on the effective date of P.L.2001, c.353 shall be increased from 50\% to 54.5\% of the compensation for which contributions were made during the 12-month period of membership providing the largest possible benefit to the member or the member's beneficiary. The provisions of section 7 of P.L.1969, c.169 (C.43:3B-8) shall not be applicable to the increases in retirement allowances provided by this section.
L.2001,c.353,s.15.
This section added to the Rutgers Database: 2012-09-26 13:37:53.
Older versions of 43:15a-61.2 (if available):
Court decisions that cite this statute:
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