236b

Commencing on January 1, 1999, and subsequently, every three (3) years, there shall be a three percent (3%) increase in all annuities to be paid under §§ 233 et seq. of this title, that are in effect on that date and which have been received for at three (3) years prior to said date. The triennial increase in years following 1999 shall apply to all annuities paid under §§ 233 et seq. of this title, for age, years of service or disability, that are in effect on January 1 of the year the increase is granted and that have been received for at least three (3) years, provided there is a prior favorable recommendation of the Actuary of the system. If in any year the system has reserves for only twenty-four (24) months or less, no increase shall be granted. The amount provided herein, and that of subsequent years, shall be defrayed by the Courts Administration. History —Oct. 19, 1954, No. 12, added as § 4(b) on Dec. 20, 1997, No. 177, § 1.