43:13-38.1 - "Salary" and "half pay" defined; maximum pension - New Jersey Statutes

43:13-38.1.   "Salary"  and  "half pay"  defined;  maximum pension
    The word  "salary,"  as used in this article, shall mean the average annual  salary paid during the last five years of a member's service, or in the event  he or she has been employed for less than five years, the average annual salary  he or she received during the time that he or she was employed. The words   "half pay,"  as used in this article, shall mean half of the average annual  salary paid during the last five years of a member's service, or in the event  he or she has been employed for less than five years, the average annual salary  he or she received during the time he or she was employed, and all pensions  granted under this article shall be based on such average salary, regardless of  any other provision of law; provided, however, that no pension shall be paid  hereunder in excess of three thousand seven hundred fifty dollars ($3,750.00)  per annum.

     L.1945, c. 213, p. 715, s. 6.