State Codes and Statutes

Statutes > New-jersey > Title-43 > Section-43-10 > 43-10-18-15i

43:10-18.15i.  Ratio of increase; calculation
    The  "ratio of increase"  which shall apply to the pension originally granted to a retirant shall be calculated in accordance with the following percentages as determined by the calendar year in which the retirement became effective; provided that, in no instance shall the amount of the pension paid to any retirant under this supplementary act including payments under future revisions be less than the pension paid under chapter 190, public laws of 1960.

                    Year of                 Ratio of

                     Retirement               Increase

  

                      1940                    132%

                        1941                    120%

                        1942                     99%

                        1943                     88%

                        1944                     85%

                        1945                     80%

                        1946                     66%

                        1947                     45%

                        1948                     35%

                        1949                     36%

                        1950                     35%

                        1951                     25%

                        1952                     22%

                        1953                     21%

                        1954                      21%     L. 1971, c. 102, s. 3.