18A:66-126.7 - Blanket increase in original or minimum pensions; adjustment of payments under this act - New Jersey Statutes

18A:66-126.7.  Blanket increase in original or minimum pensions; adjustment  of payments under this act
    If legislation is adopted providing for a blanket increase in the original retirement allowances or for minimum allowances to any group of retirants eligible for benefits under this act, all increases provided under this supplementary act shall be terminated on the first of the month when such blanket increases or minimum allowances are payable, except in those instances where the retirant's original allowance plus the increases provided under this act will exceed the amounts payable to such retirants as a result of such other  legislation;  in such event the amount payable under this act shall be the  difference between the new allowance payable by the retirement system and the  amount which would otherwise have been paid under this act.  Any subsequent  annual review of amounts payable under this act for such retirants shall  continue to be determined on the basis of the original allowance as granted by  the retirement system prior to any blanket increase or provision for minimum  allowance for any group of retirants eligible for benefits under this act.

     L.1971, c. 278, s. 7.