State Codes and Statutes

Statutes > New-jersey > Title-43 > Section-43-3b > 43-3b-3

43:3B-3.     Percentage of adjustment; calculation     For retirants and beneficiaries, the percentage of adjustment which shall apply to the retirement allowance, survivorship benefit or pension originally granted to a retirant or beneficiary 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 retirement allowance or pension paid to any retirant under this act including payments under future revisions be less than the retirement allowance or pension paid under chapter 143, public laws of 1958 as amended by chapter  144, public laws of 1961 and chapter 198, public laws of 1964; and, provided  further, that in no instance shall the amount of the retirement allowance,  survivorship benefit or pension originally granted and payable to any retirant  or beneficiary be reduced as a result of the provisions of this amendatory and  supplementary act. In no event shall a beneficiary whose benefit year is  established by subsection d.(4) of section 1 of this act (C. 43:3B-1) be  eligible for an increase under this section.

     Year of                            Year of

      Retirement   Percentage of         Retirement   Percentage of

       or Death      Adjustment           or Death     Adjustment

  

       1915           219%                 1935          137%

         1916           198%                 1936          134%

         1917           153%                 1937          126%

         1918           116%                 1938          130%

         1919            88%                 1939          134%

         1920            62%                 1940          132%

         1921            82%                 1941          120%

         1922            94%                 1942           99%

         1923            90%                 1943           88%

         1924            90%                 1944           85%

         1925            85%                 1945           80%

         1926            84%                 1946           66%

         1927            87%                 1947           45%

         1928            89%                 1948           35%

         1929            89%                 1949           36%

         1930            94%                 1950           35%

         1931           113%                 1951           25%

         1932           138%                 1952           22%

         1933           151%                 1953           21%

         1934           143%                 1954           21%

  

L.1958, c.143, s.3; amended by L.1961, c. 144, p. 820, s. 2, eff.  July 1, 1962; L.1969, c. 169, s. 3; L.1971, c. 139, s. 4, eff. May 12, 1971;  L.1977, c. 306, s. 2, eff. Dec. 27, 1977.