STATE EMPLOYEES' RETIREMENT ACT (EXCERPT)
Act 240 of 1943

38.20b Increase in monthly retirement allowance; payment.

Sec. 20b.

(1) On July 1, 1972, the monthly retirement allowance payable to a retirant or beneficiary who is on the rolls for June, 1971, is increased as follows:

Effective Date of Retirement

Percent of Increase



August 1, 1970 to July 1, 1971

1



August 1, 1969 to July 1, 1970

2



August 1, 1968 to July 1, 1969

3



August 1, 1967 to July 1, 1968

4



August 1, 1966 to July 1, 1967

5



August 1, 1965 to July 1, 1966

6



August 1, 1964 to July 1, 1965

7



August 1, 1963 to July 1, 1964

8



August 1, 1962 to July 1, 1963

9



August 1, 1961 to July 1, 1962

10



August 1, 1960 to July 1, 1961

11



August 1, 1959 to July 1, 1960

12



August 1, 1958 to July 1, 1959

13



August 1, 1957 to July 1, 1958

14



July 1, 1956 to July 1, 1957

15



Any time before July 1, 1956

25



(2) The increases in retirement allowances authorized by this section shall be paid only from the excess of assets in the pension reserve fund which the legislature has been informed is sufficient to cover the increased costs involved without requiring any appropriation of state funds.


History: Add. 1971, Act 205, Eff. Mar. 30, 1972

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