N.J.S.A. 43:13-22.43 — Increase in pension

43:13-22.43. Increase in pension The monthly pension originally granted to any retirant shall be increased in accordance with the provisions of this act. Pension increases shall not be paid to retirants who are not receiving their regular, full, monthly pensions. The increase granted under the provisions of this act shall be effective only on the first day of a month, shall be paid in monthly installments, and shall not be decreased, increased, revoked or repealed except as otherwise provided in this act. No increase shall be due to a retirant or his beneficiary unless it constitutes a payment for an entire month. L.1971, c. 277, s. 2. 43:13-22.44. Ratio of increase 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. Year of Ratio of Retirement Increase 1915 219% 1916 198% 1917 153% 1918 116% 1919 88% 1920 62% 1921 82% 1922 94% 1923 90% 1924 90% 1925 85% 1926 84% 1927 87% 1928 89% 1929 89% 1930 94% 1931 113% 1932 138% 1933 151% 1934 143% 1935 137% 1936 134% 1937 126% 1938 130% 1939 134% 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. 277, s. 3.

This is the verbatim text of N.J.S.A. 43:13-22.43, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.