N.J. Stat. § 18A:66-42.1

Current through L. 2023, c. 280.

Section 18A:66-42.1 - Increase in retirement allowance under N.J.S.18A:66-42 or N.J.S.18A:66-47

The retirement allowance of each retiree under N.J.S. 18A:66-42, or the retiree's beneficiary pursuant to N.J.S. 18A:66-47, on the effective date of P.L. 2001, c. 353 shall be increased from 2/3 to 72.7% of the actual annual compensation for which contributions were being made at the time of the occurrence of the accident. The provisions of section 7 of P.L. 1969, c.169 (C.43:3B-8) shall not be applicable to the increases in retirement allowances provided by this section.

N.J.S. § 18A:66-42.1

L. 2001, c. 353, s. 4, eff. 1/6/2002.

L. 2001, c. 353, s. 18 provides: "This act shall take effect immediately and shall be retroactive to Oct. 1, 2001."