13-1499a.   Same; modification of benefits upon extension of federalsocial security act.In the event the protection and benefits provided for by the socialsecurity act is extended to the elective and appointive city officers andemployees, other than members of the police department, fire department,water and light department, and all day laborers not paid on a monthlybasis, retirement benefits payable by the governing body of a cityoperating under the provisions of this act shall not exceed fifty percent(50%) of the actual average salary received by such retired employee duringthe last two (2) years of service with such city, less one-half (1/2) theamount of any benefits which the member is entitled to receive under thesocial security act in effect on the member's retirement date.

      History:   L. 1955, ch. 103, § 5; L. 1959, ch. 96, § 1; June 30.