§ 100-C:17 — Supplemental Allowances

Each calendar year, the general court may approve supplemental benefits in an amount exceeding $50,000 in the aggregate upon recommendation of the board. The board shall have the authority to provide supplemental benefits annually in such percentages or amounts as the board deems advisable, including the ability to segment or tier amounts based upon years without such a benefit. Supplemental benefits shall not be permanent. The board shall provide information required by the general court, including, but not limited to, any change in the Consumer Price Index-Urban for the year prior to the year in which the nonrecurring benefit is to be granted. Supplemental benefits greater than $50,000 per year in the aggregate shall only be paid if the judicial retirement annuity accumulation fund earns at a level greater than the actuarial assumed rate of return approved by the board and the trust is at least 90 percent funded for that calendar year.

Legislative History

2003, 311:1. 2007, 313:4. 2012, 247:15, eff. Aug. 17, 2012.