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Session Laws, 1962
Volume 651, Page 43   View pdf image (33K)
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J. MILLARD TAWES, Governor 43

Beneficiaries Receiving

under Section 11 of Length of Supplementary

this Article Service Payments

$ 900 25 years [$480] $ 700

1200 25 years " 420] 600

1500 25 years ' 360] 525

1800 25 years " 300] 450

2100 25 years 240] 375

2400 25 years " 180] 300

2700 25 years = 120] 225

3000 25 years; 60] 150

3300 25 years [O and] 75

3600 25 years O and

(d) Which prorata computation is made by the use of the following
formula:

[$3300] $3600 — b c. s.

[5] 4 25

in which formula "b" represents "benefits provided by Section 11"
and "c. s. ' represents "years of creditable service, " except that the
ratio of "c. s. divided by 25" shall not be applied to any beneficiary
who was, or member who may be retired for disability having less
than 25 years of creditable service, and

(e) Provided that the retirement allowance used in calculating the
supplementary payment shall be the total benefits provided in Section
11 of this article except that it shall not be based on any optional
benefit chosen by the beneficiary or member, and

(f) Provided that such beneficiary or member, excepting any person
who may retire for reasons of disability, is not eligible to receive
benefits from the federal old age and survivors' insurance system;
but this subsection shall not be construed to affect or bar any person's
right to receive supplementary payments under this article or any
other laws of this State, if such person was receiving such payments
prior to June 1, 1958.

Article 77

116(7) Supplementary payments. The board of trustees is here-
by authorized and directed, subject to the annual appropriation of the
necessary funds and in addition to those provided in accordance
with and in the same manner as that provided in subsections (1),
(2), (3), (4), (5), and (6) of this section, and subject to the con-
ditions hereinafter provided, to make a supplementary payment to
any beneficiary, or member who may be retired from service in the
future, in addition to the benefits provided in Section 113 of this
article, on the following basis:

(a) Which is not less than the rate of the supplementary payment
received by any beneficiary prior to July 1, [1959] 1962, and

(b) Which, when added to the benefits provided pursuant to Section
113 of this article is not less than [$1, 380] $1600 per annum; pro-
vided, however, that the said beneficiary, or member who may be
retired from service in the future, is credited with 25 years of service,


 

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Session Laws, 1962
Volume 651, Page 43   View pdf image (33K)
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