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Section 43:10-72.4 - Counties of second class; adjustments in amounts; ordinance or resolution

NJ Rev Stat § 43:10-72.4 (2019) (N/A)
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43:10-72.4. Counties of second class; adjustments in amounts; ordinance or resolution

Any county of the second class which is paying pensions to retirants pursuant to the provisions of article 6 of chapter 10 of Title 43 of the Revised Statutes may, from time to time, by resolution or ordinance, as appropriate, of its governing body, make adjustments in the amounts of the pension benefits payable to said retirants so as to reflect increases or decreases in living costs and maintain the purchasing power of their pension benefits in a reasonable uniform state.

Any such adjustment may be made notwithstanding that the amount of pension benefits thereby payable will exceed the amount prescribed by sections 43:10-61, 43:10-63, 43:10-64, 43:10-66 and 43:10-67, of the Revised Statutes but no such adjustment shall be made that will reduce pension benefits below the amount so prescribed.

L.1979, c. 400, s. 1, eff. Feb. 8, 1980.

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