Delaware Code Title 29 Sec. 5533 – Adjustment of benefits
(a) On and after July 1, 1972, no pension which has been in effect for 3 years shall be subject to adjustment.
Terms Used In Delaware Code Title 29 Sec. 5533
- employee: as used in this chapter shall exclude all designated faculty and designated professional staff of the University of Delaware who are first employed by the University after June 1, 1970. See Delaware Code Title 29 Sec. 5505
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
- Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302
(b) The amount of any pension which became effective before 1971 shall be the greater of:
(1) The monthly pension paid in December, 1970;
(2) The correct amount determined as a result of audits made between May, 1971, and June, 1972, inclusive of any increases provided before 1972.
(c) Any pension overpayments discovered as a result of audits made between May, 1971, and June, 1972, shall not be subject to recovery.
(d) If the final average compensation of an employee has been reduced because of a leave of absence resulting from presidential determinations to augment active forces, such employee shall have their final average compensation adjusted by their amount of military compensation. This adjustment will be no greater then what the employee would have received had they remained in employment for the period of leave. The employee will contribute 3% of the amount that was adjusted. Any remaining cost associated with the adjustment will be transferred from the Special Pension Fund authorized by 61 Del. Laws, c. 455.
(e) Any reduction in a state employee’s salary, mandated as part of the Fiscal Year 2010 Annual Appropriations Act [77 Del. Laws, c. 84] and implemented during Fiscal Year 2010, shall not be used when computing an employee’s final average compensation. Rather, the state employee’s base salary as of June 30, 2009, shall be used in calculating the employee’s final average compensation as defined in § 5501(g) of this title.
29 Del. C. 1953, § ?5533; 58 Del. Laws, c. 527, § ?1E; 59 Del. Laws, c. 457, § ?1; 74 Del. Laws, c. 189, § ?1; 77 Del. Laws, c. 84, § ?85; 79 Del. Laws, c. 174, § ?1;