New Jersey Statutes 43:10-18.15h. Increase in monthly pension
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In New Jersey Statutes 43:10-18.15h
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- month: means a calendar month, and the word "year" means a calendar year. See New Jersey Statutes 1:1-2
The monthly pension originally granted to any retirant shall be increased in accordance with the provisions 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on the first day of a month, shall be paid in monthly installments, and shall not be decreased, increased, revoked or repealed except as otherwise provided in this act. No increase shall be due to a retirant or his beneficiary unless it constitutes a payment for an entire month.
L.1971, c. 102, s. 2.