§ 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.