Delaware Code Title 29 Sec. 5611 – Adjustment of benefits under closed plan
(a) On and after July 1, 1972, no pension provided under the closed plan which has been in effect for 3 years shall be subject to adjustment. This provision shall not apply to adjustments of pensions required to implement subsection (b) of this section.
Terms Used In Delaware Code Title 29 Sec. 5611
- Month: means a calendar month, unless otherwise expressed. See Delaware Code Title 1 Sec. 302
(b) Effective September 1, 1972, the amount of any pension in effect on July 1, 1969, shall be the greater of: (1) The monthly pension rate paid in July, 1969, or (2) the recalculated amount determined as a result of audits made between May, 1971, and June 30, 1972, inclusive of any increases provided between July 1, 1969, and June 30, 1972, provided that the minimum pension payable for any month after July, 1969, shall be the monthly pension rate paid in July, 1969.
(c) Any pension overpayments discovered as a result of audits made between May, 1971, and June 30, 1972, shall not be subject to recovery.
29 Del. C. 1953, § ?5612; 58 Del. Laws, c. 527, § ?4; 62 Del. Laws, c. 415, § ?17;