§ 29-113. Annual retirement allowance adjustment under State Police Retirement System

   (a) Eligibility; amount. -- Subject to subsection (b) of this section, a disability retiree of the State Police Retirement System, or a beneficiary of a disability retiree of the State Police Retirement System, who retires on or before June 30, 1999 with an ordinary or special disability retirement allowance under § 29-107 or § 29-111 of this subtitle, shall receive an annual retirement allowance adjustment as of July 1, 1999, as follows:

   (1) for a retiree who has been retired not more than 5 years, $ 1,200;

   (2) for a retiree who has been retired more than 5 years but not more than 10 years, $ 1,500;

   (3) for a retiree who has been retired more than 10 years but not more than 15 years, $ 1,800; and

   (4) for a retiree who has been retired more than 15 years, $ 2,100.

(b) Computation of annual adjustment. -- Each fiscal year, the Board of Trustees shall increase the adjustment received by the retiree or the beneficiary as of July 1, 1999, by multiplying the adjustment by a fraction that has:

   (1) as its numerator, the Consumer Price Index for the calendar year ending December 31 of the preceding fiscal year; and

   (2) as its denominator, the Consumer Price Index for the calendar year ending December 31, 1998.

HISTORY: 1999, ch. 122, § 1; ch. 123, § 1; 2004, ch. 25, § 6.