N.J.S.A. 43:15A-45.1 — Increase in retirement allowance under C.43:15A-45 and C.43:15A-50.

43:15A-45.1 Increase in retirement allowance under C.43:15A-45 and C.43:15A-50. 10. The retirement allowance of each retiree under section 45 of P.L.1954, c.84 (C.43:15A-45), or the retiree's beneficiary pursuant to section 50 of P.L.1954, c.84 (C.43:15A-50), on the effective date of P.L.2001, c.353 shall be increased by a percentage equivalent to the percentage increase in the fraction of final compensation for each year of credited service for the total retirement allowance under these sections made by this act, P.L.2001, c.353 (C.18A:66-41.1 et al.). The provisions of section 7 of P.L.1969, c.169 (C.43:3B-8) shall not be applicable to the increases in retirement allowances provided by this section. L.2001,c.353,s.10.

This is the verbatim text of N.J.S.A. 43:15A-45.1, 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.