43:13-22.54b - Increases in pension - New Jersey Statutes

43:13-22.54b.  Increases in pension    Every person who is a retirant from a retirement system created pursuant to  P.L.1964, c. 275 (C. 43:13-22.50 et seq.) or from a retirement system that has  merged with that retirement system, and who is receiving a pension on the effective date of this act, shall have that pension increased by 1% for each full year that has elapsed since his retirement up to the effective date 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only on the first day of a month, shall be paid in  monthly installments, and shall not be decreased, revoked or repealed except as  otherwise provided by law.  No increase shall be due a retirant or his  beneficiary unless it constitutes a payment for an entire month.

     L.1984, c. 117, s. 1, eff. Aug. 8, 1984.