§ 8-3-15 - Cost of living allowance.
SECTION 8-3-15
§ 8-3-15 Cost of living allowance. –(a) All justices of the supreme court, superior court, family court, ordistrict court, or their surviving spouses or domestic partners, who retireafter January 1, 1970 and who receive a retirement allowance pursuant to theprovisions of this title shall, on the first day of January next following thethird anniversary date of retirement, receive a cost-of-living retirementadjustment in addition to his or her retirement allowance in an amount equal tothree percent (3%) of the original retirement allowance. In each succeedingyear thereafter during the month of January, the retirement allowance shall beincreased an additional three percent (3%) of the original allowance, notcompounded, to be continued during the lifetime of the justice or his or hersurviving spouse or domestic partner. For the purpose of such computation,credit shall be given for a full calendar year regardless of the effective dateof the retirement allowance.
(b) Any justice who retired prior to January 31, 1977 shallbe deemed for the purpose of this section to have retired on January 1, 1977.