38.2510 Effective date of retirement before January 1, 1980; exception; supplement.

367 words·~2 min read·/mi/chapter-38/38-2510

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Sec. 510.

(1)Effective June 1, 1996, the retirement allowance payable to a retirant or beneficiary of a deceased retirant whose effective date of retirement was before January 1, 1980, except a retirant or beneficiary of a deceased retirant who was a member of the former judges retirement system before September 8, 1961, is supplemented as follows:

Effective Date of Retirement Percent of Increase

January 1, 1979 to December 31, 1979 11%

January 1, 1978 to December 31, 1978 12%

January 1, 1977 to December 31, 1977 13%

January 1, 1976 to December 31, 1976 14%

January 1, 1975 to December 31, 1975 15%

January 1, 1974 to December 31, 1974 16%

January 1, 1973 to December 31, 1973 17%

January 1, 1972 to December 31, 1972 18%

January 1, 1971 to December 31, 1971 19%

January 1, 1970 to December 31, 1970 20%

January 1, 1969 to December 31, 1969 21%

January 1, 1968 to December 31, 1968 22%

January 1, 1967 to December 31, 1967 23%

Before January 1, 1967 24%

(2)The recalculated retirement allowance shall be the basis on which future adjustments to the retirement allowance are calculated.

(3)The supplement provided by this section shall be calculated pursuant to subsection

(1)and shall be paid before October 1, 1996. However, for a retirant or beneficiary of a deceased retirant who is eligible to receive a supplement under this section, who is receiving a retirement allowance pursuant to service credited under the former judges retirement system, and who is receiving a retirement allowance pursuant to service credited under the former probate judges retirement system, the retirement system, pursuant to this section, shall only supplement the retirement allowance that is the largest in amount. If a retirant dies before October 1, 1996 and no benefits become payable under section 506 or 508, the retirant's retirement allowance shall not be supplemented under this section.

(4)This section does not apply to a retirant or beneficiary of a deceased retirant who received a supplement under section 16a of the former probate judges retirement system.

History: Add. 1996, Act 350 , Imd. Eff. June 28, 1996