Section 10-12C-14.1 - Qualified pension recipient; cost-of-living adjustment wait period; declining increaseA. Pursuant to the Magistrate Retirement Act, a qualified pension recipient is a: (1) normal retired member who retires: (a) on or before June 30, 2014 and has been retired for at least two full calendar years from the effective date of the latest retirement prior to July 1 of the year in which the pension is being adjusted;(b) between July 1, 2014 and June 30, 2015 and has been retired for at least three full calendar years from the effective date of the latest retirement prior to July 1 of the year in which the pension is being adjusted;(c) between July 1, 2015 and June 30, 2016 and has been retired for at least four full calendar years from the effective date of the latest retirement prior to July 1 of the year in which the pension is being adjusted; or(d) on or after July 1, 2016 and has been retired for at least seven full calendar years from the effective date of the latest retirement prior to July 1 of the year in which the pension is being adjusted;(2) normal retired member who is at least sixty-five years of age and has been retired for at least one full calendar year from the effective date of the latest retirement prior to July 1 of the year in which the pension is being adjusted;(3) disability retired member who has been retired for at least one full calendar year from the effective date of the latest retirement prior to July 1 of the year in which the pension is being adjusted;(4) survivor beneficiary who has received a survivor pension for at least two full calendar years; or(5) survivor beneficiary of a deceased retired member who otherwise would have been retired at least two full calendar years from the effective date of the latest retirement prior to July 1 of the year in which the pension is being adjusted.B. A qualified pension recipient may decline an increase in a pension by giving the association written notice of the decision to decline the increase at least thirty days prior to the date the increase would take effect.1978 Comp., § 10-12C-14.1, enacted by Laws 2014, ch. 39, § 15 and Laws 2014, ch. 43, § 15.Added by 2014, c. 43,s. 15, eff. 7/1/2014.Added by 2014, c. 39,s. 15, eff. 7/1/2014.