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Section 43:10-18.15i - Ratio of increase; calculation

NJ Rev Stat § 43:10-18.15i (2019) (N/A)
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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.

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Section 43:10-18.15h - Increase in monthly pension
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Section 43:10-18.15j - Payment of costs by employer; commencement of payments; discontinuance