Sec. 5-163b. Supplemental retirement benefit for certain members eligible to retire on or before July 1, 1989.
Sec. 5-163b. Supplemental retirement benefit for certain members eligible to
retire on or before July 1, 1989. Notwithstanding any provision of this chapter and
subsection (f) of section 5-278 to the contrary, any member of the state employees
retirement system (1) who is in active state service or receiving workers' compensation
payments, and who has ten or more years of credited state service and is eligible to retire
on or before July 1, 1989, or (2) who is eligible for a disability retirement pursuant to
section 5-169 or 5-192p on or before July 1, 1989, shall be eligible for a supplemental
retirement benefit, provided such member submits a written application for retirement
to the Retirement Division of the office of the Comptroller on or after June 1, 1989, but
before October 1, 1989. Such retirement shall become effective the first day of the month
following receipt of such application. No member whose application for retirement is
received on or after October 1, 1989, shall be eligible for such benefit. The amount of
the supplemental retirement benefit shall be equal to two per cent of such member's
annual base rate of pay, in accordance with any applicable compensation schedule, as
of June 29, 1989, multiplied by the number of such member's completed years of credited
state service, taken to completed months, provided accrued vacation time shall not be
considered credited state service for the purposes of such benefit, and provided further
the amount of any such benefit shall not exceed twenty-one thousand six hundred dollars.
The supplemental retirement benefit shall be paid to such member in thirty-six equal
monthly installments, commencing with the month in which such member's retirement
becomes effective. If any such member dies before such payments are completed the
remainder of the benefit payable to such member pursuant to this section shall be paid
to such member's estate in a single payment.
(P.A. 89-323, S. 1, 4.)